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Monday, 30 April 2018

Banque du Caire to IPO end of 2018 or early 2019 -Amer

IPO WATCH- Banque du Caire will IPO on the Egyptian Exchange by the end of 2018 or early 2019, according to CBE Governor Tarek Amer. Banque du Caire was widely expected to be the first company to list under the state’s privatization program, which officials said will see shares from 4-6 companies (out of a total 23) offered on the EGX before the end of 2018. Finance Minister Amr El Garhy had previously said that the committee overseeing the program is still deciding which state-owned companies would IPO or offer additional shares on the EGX in 2018, noting that those “more ready” than others would receive priority, and that September or October should see the first transactions. Oil outfit Enppi is now expected to pilot the program. Eastern Company could also be among the first few already-listed companies to sell additional shares.

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