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Thursday, 13 February 2020

Banque du Caire IPO could go ahead in mid-April

PRIVATIZATION WATCH- State-owned Banque du Caire (BdC) shares could start trading on the EGX by the middle of April, the local press reports, citing unnamed industry sources. The bank, which is reportedly set to sell a 45% stake to investors, go ahead with a classical offering to both institutional and local retail investors, the sources said. BdC is kicking off a second roadshow for the offering in the US this month, after reporting “significant” demand during a recent roadshow in the Gulf and the UK to drum up support among foreign investors ahead of the sale. BdC’s IPO would be the first under the state privatization program announced in 2018.

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