Cairo Bank plans $454 million raise
Cairo Bank aims to raise approximately $454 million by offering 30% of its shares on the Egyptian stock exchange, with the possibility of increasing the stake to 45% based on demand. The price range is set between 4.82 and 5.30 Egyptian pounds per share. The process will include a book-building phase in October, with trading expected to begin in November. This offering comes as part of Egypt's efforts to accelerate its privatization program and stimulate the local market, and it is considered one of the largest initial public offerings in Egypt in recent years.
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