Egypt increases Banque du Caire stake to 45%
The Egyptian Financial Supervisory Authority has approved an increase in the proportion of shares offered by Cairo Bank from 30% to 45% of the bank’s total capital. This comes as part of a plan to issue a portion of its shares on the stock exchange. The move follows the bank’s announcement of agreements with the European Bank for Reconstruction and Development and the International Finance Corporation, both of which have agreed to independently participate in the private offering with stakes of up to 15.74% each. The goal of this step is to pave the way for Cairo Bank's listing on the financial market after years of postponement. However, there is some debate and caution regarding the ownership of the bank and the management of the offering.
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