August 20, 2019 / 11:54 AM / 6 months ago

Egypt's Banque du Caire expects to sell minority stake by early 2020

CAIRO (Reuters) - The head of Egypt’s state-owned Banque du Caire told reporters on Tuesday 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.

Reporting by Ehab Farouk; Writing by Patrick Werr; Editing by David Goodman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below