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.
