Engineering for the Petroleum & Process Industries (Enppi) has appointed Zaki Hashem & Partners law office to provide legal advice for its upcoming initial public offering (IPO), Amwal Al Ghad reported.

The IPO comes as a part of the Egyptian government’s privatization program, which aims to float shares in several state-owned firms. Officials forecast an initial valuation ENPPI of around $150 million.

The IPO will see 24% of Enppi’s shares listed on the Egyptian Exchange Market (EGX), and will take place at the end of 2018, Mohamed Hathout, head of Enppi, previously said, according to Al Borsa.

The offering procedures will be completed in cooperation with the offering adviser, NI Capital Company, a subsidiary of the Egyptian Ministry of Investment, Hathout pointed out.

The Ministry of Investment hopes that the five-year IPO program will attract increased amounts of foreign investment in the Egyptian markets.