Last Update 20:15
Saturday, 24 October 2020

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

Reuters , Tuesday 20 Aug 2019
Share/Bookmark
Views: 1561
Share/Bookmark
Views: 1561

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. 

Search Keywords:
Short link:

 

Latest

© 2010 Ahram Online.