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Friday, 21 September 2018

HSBC named lead bank for 20 percent listing of Egypt's AMOC: ministry

Reuters , Friday 14 Sep 2018
HSBC
HSBC gave an optimistic outlook for Egypt's economy (Reuters)
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Egypt has named HSBC as lead bank to manage a public offering for a 20 percent stake in the Alexandria Mineral Oils Company (AMOC) in a bid to raise up to 2.8 billion Egyptian pounds ($156 million), the finance ministry said on Friday.

The government is selling minority stakes in public companies on the stock exchange as it aims to draw investment and raise 80 billion Egyptian pounds.

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