Cairo Bank to float 30% of shares
Cairo Bank announced its intention to offer 30% of its shares on the Egyptian Stock Exchange, through the sale of 4.575 billion shares owned by Bank of Egypt, representing a portion of its capital. The offering includes private placements for qualified investors both in Egypt and abroad, as well as a public offering for individual investors within Egypt. The bank is continuing to complete the relevant regulatory approvals. The subscription and the start of trading of the shares are expected to take place at the end of October or the beginning of November, after obtaining the necessary approvals, with the aim of strengthening its investment presence and expanding its shareholder base.
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