(Ecofin Agency) - Banque du Caire will list 20-30% of its capital on the Egyptian Exchange by end 2019, Ahramonline reported on April 25, 2019, citing one of the bank’s executives.

According to Tarek Fayed, president of the bank’s administrative board, the timing will depend on the environment in local and international financial markets.  

The listing should help Banque du Caire raise between $300 million to $400 million via IPO and private placement.

"The majority of these shares will be sold via private placement," M. Fayed explained indicating that the operation might also include a capital increase.

Banque du Caire has 2.5 million clients and 5% market share and Egypt as a major stakeholder.