The Clap
The FRA has granted Banque du Caire (which is listed on the EGX’s database) more time to resume the process of offering their shares.
What
Last August, the FRA issued changes to extend the deadline companies have to offer their shares, as long they provide a timeline.
So what
Banque du Caire is Egypt’s third largest non-private bank, reflecting the government’s seriousness on increasing the private sector’s participation in the economy.
Now what
Banque du Caire has until March 31st, 2023, to resume the process; but it’s worth noting that their plan to go public goes back to 2016.
