FRA Launches First National Training Program to Prepare State-Owned Enterprises for EGX IPOs

 The Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, is set to launch a comprehensive training program next Sunday, July 26, 2026, aimed at building the readiness of state-owned companies temporarily listed on the Egyptian Exchange (EGX).

Conducted through the FRA’s training arms—the Financial Services Institute (FSI) and the Egyptian Directors Center (EDC)—this initiative marks the first national effort to support the government’s IPO program through targeted training and qualification.

The program is designed to enhance the efficiency of professional cadres across various sectors, promote financial literacy, and finalize the business plans and technical frameworks necessary for executing offerings successfully. It also focuses on developing specialized national expertise in stock market IPO operations.

Furthermore, the initiative seeks to assist targeted state-owned companies in fulfilling listing and offering requirements while adopting best practices in corporate governance and disclosure. This aligns with the FRA’s ongoing efforts to support the state’s IPO program and elevate the readiness of candidate companies.

Inaugural Session and Leadership Vision To mark the launch, the FRA is organizing an inaugural session attended by prominent officials, including:

Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade.

Dr. Hashem El-Sayed, Assistant Prime Minister and CEO of the State-Owned Enterprises Unit.

Mr. Omar Radwan, Chairman of the Egyptian Exchange.

Various leaders from the FRA, EGX, and chairpersons of state-owned enterprises.

Dr. Islam Azzam, FRA Chairman, stated that this readiness-building program reflects the integration of the Authority's roles—spanning supervision, regulation, and awareness—to build more efficient markets. He emphasized that the government IPO program will significantly deepen and expand the capital market, boosting its attractiveness by listing a diverse group of top-tier state-owned companies, thereby broadening options for investors.

Dr. Azzam also praised the seamless coordination with the State-Owned Enterprises Unit, led by Dr. Hashem El-Sayed, highlighting their joint efforts to transfer best practices to targeted companies to ensure sustained post-listing compliance.

Target Audiences and Sectors Dr. Azzam clarified that the program will not be limited to the 20 companies the Unit has already successfully listed on a temporary basis. It will extend to approximately 30 additional state-owned companies targeted for public offerings across key sectors, including:

Petroleum and Mining

Pharmaceuticals

Tourism

Construction

Education and Industry

The training is tailored for key decision-makers and executives, including board members, CEOs, CFOs, accounting managers, investor relations and disclosure officers, internal audit and governance managers, and all executives involved in the listing process.

Comprehensive Training Framework Dr. Tarek Seif, Executive Director of the FSI, explained that the program guides participants through the entire listing and offering journey—from fulfilling temporary listing requirements to final listing and the commencement of trading. The curriculum will blend short lectures, case studies, and integrated simulations.

Dr. Seif added that the program covers seven main pillars:

Comprehensive overview of the capital market’s legislative and regulatory framework.

Mechanisms for temporary and final listing.

Financial and accounting readiness.

Governance and sustainability requirements.

Disclosure practices and offering prospectuses.

Execution mechanisms for public offerings.

Post-listing obligations.

These sessions will be delivered by experts from the FRA, the EGX, and FRA-licensed offering advisors.

Background: The Financial Services Institute (FSI) and the Egyptian Directors Center (EDC) annually provide a robust suite of training courses benefiting thousands of professionals. Their programs cover governance, compliance, sustainability, risk management, investor relations, and regulatory frameworks, aiming to boost the efficiency of leadership and professional cadres within the non-banking financial sector, capital market investors, and the insurance and finance industries.