Banque du Caire IPO timed for 2018

IPO WATCH- Egypt expects to raise as much as EGP 7.2 bn from the IPO of Banque du Caire by 2018, Reuters reports. Banque du Caire had planned to list its shares on the EGX in 1H2017 as part of the government’s plan to list state-owned companies. Finance Vice Minister Ahmed Kouchouk, however, told Reuters, the state expects to raise a lower amount of EGP 5-7 bn through the IPO of state-owned companies in FY 2017-18.