The Egyptian Linear Alkyl Benzene Company (ELAB), an Egyptian petrochemicals producer, has applied for a temporary listing on the Egyptian Exchange’s (EGX) main market, according to an EGX disclosure.

The company plans to list 2.1 billion shares at a par value of $0.10 each, bringing its issued capital to approximately $210 million. The application is currently under review by the EGX before being referred to the Listing Committee.

The move comes as part of the government’s broader privatization program, which includes the temporary listing of 10 petroleum sector companies on the EGX. Prime Minister Mostafa Madbouly said in April that the decision aims to improve corporate performance, enhance competitiveness, and attract new investments.

Established in 2003, ELAB produces linear alkyl benzene (LAB), a key raw material used in detergent manufacturing, as well as heavy alkyl benzene (HAB) as a by-product.

ELAB has been slated for privatisation since 2018. In 2023, Abu Dhabi’s sovereign wealth fund ADQ acquired 35% of its shares as part of a broad $800 million divestment package that also included 30% of the Egyptian Ethylene and Derivatives Company (Ethydco) and 25% of the Egyptian Drilling Company (EDC).