Cairo – Mubasher: Banque Du Caire will be listed on the Egyptian Exchange (EGX) in the fourth quarter of 2018, Egypt's central bank governor Tarek Amer told Al Borsa newspaper.
CBE governor ascribed the delay of floating the state-owned bank to recent shifts of boards of state-run banks.
Mostafa Gad, co-head of EFG Hermes' investment banking division, previously said that the bank would be listed in the first half of 2018.
EFG-Hermes and HSBC have been selected as consultants for the initial public offer (IPO) of Banque Du Caire, the finance ministry said.
Banque Du Caire acquires a 22% market share of micro-enterprises funding, as well as a 15% stake of the banking sector's customers.
The government targets to raise $10 billion investments of the state's IPO programme over the next three years.
