Cairo - Mubasher: The Central Bank of Egypt’s (CBE) sub-governor, Tarek Fayed said that issuing the shares of Banque du Caire in the Egyptian Exchange (EGX) will take place in the first quarter of 2018.
The percentage for the initial public offering (IPO) is yet to be determined, but it will not exceed 40%, Fayed told Shorouk News on Sunday.
The listing committee of the Egyptian Exchange (EGX) approved in February to list the shares of Banque Du Caire.
The bank’s issued capital amounts to EGP 2.25 billion, distributed over 562.5 million shares at a par value of EGP 4 per share.
The shares of the bank will be added to EGX database after receiving the approval of Misr for Central Clearing, Depository and Registry (MCDR) for the bank's capital increase up to LE 2.25 billion, according to the listing rules set by the Egyptian Financial Supervisory Authority (EFSA).
