Egypt’s Banque du Caire eyeing sale of 20-30 percent stake for $300-400m

Central Bank of Egypt's headquarters aee seen in downtown Cairo, Egypt, September 7, 2017. (Reuters)

• A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years

CAIRO: The head of Egypt's Banque du Caire said on Thursday the bank was aiming to raise $300-400 million by selling a 20-30 percent stake by the end of 2019.
Chairman and Chief Executive Tarek Fayed told reporters that the timing of the initial public offering depended on market conditions.
A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years.