Government in talks to raise Banque du Caire’s IPO stake to 30%
The Egyptian government is reportedly discussing raising the share of Banque du Caire capital that is expected to be listed from 20% initially to 30%, according to sources familiar with the matter. The government is also considering listing a stake of the capital as GDRs in the London stock exchange in order to attract foreign investors. The extra shares will be listed as GDRs in London to “attract foreign investors.” Banque du Caire had requested formally from the Egyptian stock exchange committee to list a portion of its capital. (Al Shorouk)
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