Cairo Bank to sell 30% on EGX

Cairo Bank intends to offer 30% of its shares on the Egyptian Exchange by selling 4.575 billion shares, as part of its efforts to become one of the largest government banks in the market. The subscription and trading of shares are expected to be completed in November, following the completion of regulatory approvals. The offering involves qualified investors and individuals from Egypt and other countries. This move is part of the Egyptian government's program to expand the private sector and raise approximately 32 billion Egyptian pounds, after several previous attempts were postponed due to market volatility and disagreements over valuation.

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