State-owned National Investment Bank (NIB) wants to sell its 10% stake in the EGX-listed cement producer Misr Cement Qena to a private-sector investor, Al Borsa reported Saturday, citing anonymous sources.

Advisors: The bank’s investment bank arm, NI Capital, will launch a tender to choose an advisor for the sale, according to Al Borsa.

Misr Cement denies knowledge: The company said it had no knowledge of the NIB’s reported plans in a bourse disclosure (pdf) yesterday.

Refresher: Planning Minister Hala El Said said last year that up to USD 3 bn worth of assets owned by the NIB could be offered to investors by the Sovereign Fund of Egypt (SFE).

Which other NIB assets could be up for grabs? NIB and Banque Misr together own almost 75% of state-owned real estate firm Midar, which the SFE is reportedly preparing to list on the EGX in 1H 2024. NIB’s stakes in Al Ezz Dekheila, Egyptian Media Production City and Misr Fertilizers Production Company (MOPCO) could also be in the cards.

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