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Cairo Bank Draws $600M

Cairo Bank Draws $600M

Egyptian Exchange Chairman Omar Radwan said the offering of shares in Banque du Caire attracted more than $600 million in foreign investment, covering around 80% of the offering. He said the investment brought new inflows into the economy and was a vote of confidence from international investors. Radwan added that the number of new shareholders exceeded 40,000, and that participating institutions had signed agreements to become strategic investors. He also noted that the market had gained around one million investors over the past three years, while trading volumes had more than tripled compared with last year.

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