1 Day
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مصراوي
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45% Stake Raises EGP 36B
Assistant Prime Minister Hashem El-Sayed said that the offering of 45% of Banque du Caire’s shares on the Egyptian Exchange, conducted on November 2, raised EGP 36 billion. The offering comprised a private tranche accounting for 95% of the shares offered and a public tranche accounting for 5%. The two tranches were oversubscribed sevenfold and 27-fold, respectively. El-Sayed stressed that participation by foreign institutions generated dollar proceeds and that the offering did not put pressure on market liquidity.
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