Egypt army-owned Safi, Wataniya won’t seek stock listing this year -SWF head

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The head of Egypt sovereign wealth fund signaled on Sunday that army-owned companies Safi and Wataniya would not be seeking stock exchange listings this year.

Ayman Soliman told Al Arabiya television that, under current circumstances, the exchange was not the appropriate environment for the two companies.

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Egypt approved pre-listing procedures for Wataniya, which operates petrol stations, and for water utility Safi in July. The wealth fund is coordinating that process. (Reporting by Moataz Mohamed; editing by John Stonestreet)