Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Egypt's SCZONE welcomes Zhejiang Province delegation for trade talks    Beltone Venture Capital partners with Citadel International to manage $30m startup fund    S. Africa to use contingency reserves to tackle debt    Gaza health authorities urge action for cancer, chronic disease patients    Transport Minister discusses progress on supplying new railway carriages with Hungarian company    Egypt's local gold prices see minor rise on April 18th    Expired US license impacts Venezuela crude exports    Taiwan's TSMC profit ups in Q1    Yen Rises, dollar retreats as G7 eyes currency calm    Egypt, Bahrain vow joint action to end Gaza crisis    Egypt looks forward to mobilising sustainable finance for Africa's public health: Finance Minister    Egypt's Ministry of Health initiates 90 free medical convoys    Egypt, Serbia leaders vow to bolster ties, discuss Mideast, Ukraine crises    Singapore leads $5b initiative for Asian climate projects    Karim Gabr inaugurates 7th International Conference of BUE's Faculty of Media    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    Eid in Egypt: A Journey through Time and Tradition    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Tourism Minister inspects Grand Egyptian Museum, Giza Pyramids    Egypt's healthcare sector burgeoning with opportunities for investors – minister    Egypt starts construction of groundwater drinking water stations in South Sudan    Russians in Egypt vote in Presidential Election    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Egypt's powerhouse 'The Tank' Hamed Khallaf secures back-to-back gold at World Cup Weightlifting Championship"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    Egypt builds 8 groundwater stations in S. Sudan    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Banque du Caire restructuring plan underway in full swing ahead of possible 2019 IPO
Lender set to float 30% stake by early next January aims at raising EGP 10bn
Daily News Egypt Published in Daily News Egypt on 02 - 09 - 2018

Banque du Caire is looking to offer up to 30% of its capital on the Egyptian Exchange (EGX) in early 2019 within the framework of the government's initial public offerings (IPOs) programme.
The bank is set to float the stake on the EGX following the completion of its restructuring plan, a top official at the bank told Daily News Egypt.
In April, the Central Bank of Egypt's (CBE) governor, Tarek Amer forecasted that the bank would launch an IPO sometime towards the end of 2018 or early 2019.
The offering is a part of Banque Misr's plan, which holds 100% of Banque du Caire, to raise EGP 10bn in proceeds from selling stakes in a number of other companies.
In March, the Ministry of Finance said it was planning to offer up to 23 state-owned companies on the Egyptian bourse at a total value of EGP 80bn as part of the first phase of the government's IPOs programme, which aims to raise the EGX's market capital as well as boost daily trading volume.
The buzz around initial public offerings in Egypt is growing louder, with more companies announcing plans for share sales.
They join a growing line-up in what could prove the busiest year for new listings in Cairo since the 2011 uprising, which ousted President Hosni Mubarak.
Growing confidence in economic policies introduced since the currency float has boosted the Egyptian stock market and is prompting companies to consider share sales.
Property developers Rooya Group and Landmark Sabbour have announced IPO plans, while Carbon Holdings has hired investment bank EFG-Hermes to manage its market debut, Al-Borsa reported March 13.
"While the potential to increase participation by Egyptians in stock-market investment is large, some of the biggest companies may wait with IPO plans until the central bank fulfils economists' forecasts of interest-rate cuts," said Allen Sandeep, head of research at Naeem Brokerage in a recent research note.

Clic here to read the story from its source.