Tarek Fayed, head of Banque du Caire, said that the bank’s IPO is possible at any time, following the consultation & approval of the CBE, Banque Misr, & the Ministry of Finance.
Who is affected Fayed stated that the bank already saw significant demand when it was first promoted to investors before the pandemic. He added that the bank conducted a restructuring process which contributed to an increase in its market share, profitability & financial solvency in a way that makes it ready to go public any time.
Why is this important Banque du Caire has been on the state’s privatization program list for almost three years, for which its IPO was postponed several times. The government had hired EFG Hermes (HRHO) & HSBC to advise on the deal.
