El Mansour & El Maghraby for Investment and Development Company sold yesterday a 4% stake in Credit Agricole Egypt (CAE) totaling EGP257mn. The company sold 11 million shares at EGP23 per share. Post yesterday’s sale, El Mansour & El Maghraby stake is 5.8%.  It has been a key reference shareholder in the bank for a number of years and it still remains the largest shareholder in CAE, after the parent company, Credit Agricole. The stake was sold at top end of price range and significantly oversubscribed, according to Bloomberg. The bulk of the buyers came from Europe, Africa and US. (Bloomberg)   Credit Agricole: EGP23.00 as of 18 May 2016, Rating: Buy, FV: EGP26.66 per share, MCap: USD805 million, CIEB EY / CIEB.CA