Egypt tapping local and international investment banks to advise on IPOs of state-run companies

IPO WATCH- Government officials are in talks with local and international investment banks to advise on the sale on the EGX of stakes in state-run companies, Alaa Shahine and David Westin write for Bloomberg. “Egypt has already hired HSBC and EFG-Hermes to advise on the planned IPO of state-owned lender Banque du Caire, while officials have said the program would also include oil companies,” Shahine and Westin say.