Egypt's Banque Du Cairo Expects to Sell Minority Stake by Early 2020Source: www.export-egypt.com 8/20/2019, Location: Africa |
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The head of Egypt’s state-owned Banque du Caire told reporters that he expects to sell 30-40% of the bank by the end of 2019 or in early 2020.
A deal to sell the bank was cancelled in 2008 and an initial public offering has been postponed repeatedly over the past three years. “We plan to offer 30-40% of the shares in the bank in principle through a capital increase and the sale of a stake to a strategic investor,” Chairman and CEO Tarek Fayed said. |
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