Banque Du Caire to launch IPO in Q1 2020

The bank may float 40% of its shares

  
Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

REUTERS/ Mohamed Abd El Ghany

Cairo –  The initial public offering of Banque Du Caire is set to be launched during the first quarter of 2020, the bank’s deputy chairman Hazem Hegazy stated on Tuesday.

The bank is completing the final procedures to float a stake of between 30% and 40% of its shares on the Egyptian Exchange, Hegazy added.

The governor of the Central Bank of Egypt Tarek Amer announced the hiring of local and foreign financial advisors for Banque Du Caire’s IPO.

Source: Mubasher

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