Cairo – Mubasher: Banque Du Caire plans to list a stake of its shares on the Egyptian Exchange (EGX) and on an international stock market this year, the chairman of the state-run lender said on Thursday.
The share sale will range from 20% to 30% of the bank’s total shares at proceeds worth around $300 million to $400 million, Tarek Fayed told a press conference on the sidelines of launching the lender’s new brand.
On Sunday, the governor of the Central Bank of Egypt (CBE) Tarek Amer told Bloomberg News that the Egyptian government plans to sell a stake in Banque du Caire, which is fully owned by Banque Misr.
Selling an equity in Banque du Caire would be through the EGX by the end of 2019, Amer added.
