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Thndr Claps » EGY Claps » Financial Services 💸 » Government could sell 45% stake in Banque du Caire

Government could sell 45% stake in Banque du Caire

by Shams Abbas
February 7, 2023

The Clap
The Egyptian government has announced plans to sell 45% of Banque du Caire & finalize the sale of the United Bank to the Saudi sovereign fund.

What
The sale of Banque du Caire will occur through the entry of a strategic investor or by offering shares on the stock exchange.

So what
The government aims to complete these sales before the International Monetary Fund conducts its first review in March 2023. 

Now what
Banque du Caire has until March 31st, 2023 to finalize its offering procedures.

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