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.
BYD to install 200-300 EV chargers in South Africa by 2026 Fast-charging stations powered by grid...
Drones to aid soil health, pest control, and input efficiency High costs, skills gap challenge ac...
• The five-year plan allocates 388 billion pulas to boost growth and jobs.• Focus areas include tran...
• The Bank urges Nigeria to raise excise taxes on alcohol, tobacco, and sugary drinks.• Current rate...
TotalEnergies, Perenco, and Assala Energy account for over 80% of Gabon’s oil production, estimate...
Drone strikes near Khartoum airport on October 21 raised security concerns ahead of the planned resumption of domestic flights on October 22. The...
Senegal and Kenya signed a three-month visa waiver agreement to facilitate travel, trade, and tourism. Bilateral trade remains low at $4.5...
Coca-Cola HBC to acquire a 75% stake in Coca-Cola Beverages Africa (CCBA) for $2.6 billion. The deal could rise to $3.4 billion if HBC...
Operations at the Loulo-Gounkoto gold mine, Mali’s largest, reportedly resumed last week after a nine-month suspension, though neither Barrick nor...
Asmara, the capital of Eritrea, is often described as Africa’s modern city for its remarkable architectural heritage and forward-thinking urban design....
The Great Zimbabwe National Monument stands as one of southern Africa’s most iconic archaeological sites, a silent witness to a thriving African...