{"id":570733,"date":"2020-04-13T04:33:08","date_gmt":"2020-04-13T04:33:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/13\/banque-du-caire-postpones-ipo-on-market-turmoil-chairman\/"},"modified":"2020-04-13T04:33:08","modified_gmt":"2020-04-13T04:33:08","slug":"banque-du-caire-postpones-ipo-on-market-turmoil-chairman","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/13\/banque-du-caire-postpones-ipo-on-market-turmoil-chairman\/","title":{"rendered":"Banque du Caire postpones IPO on market turmoil -chairman"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>IPO WATCH- Banque du Caire postpones IPO on market turmoil, chairman confirms: <\/strong>State-owned Banque du Caire (BdC) has shelved plans to debut 20-30% of its shares on the EGX in April thanks to fallout from the covid-19 pandemic, Chairman Tarek Fayed <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1936868\">confirmed to Al Masry Al Youm<\/a> in an interview published yesterday. \u201cPlans to offer shares on the EGX have been postponed due to the global and local spread of covid-19 and its impact on global and local markets,\u201d Fayed said.<\/p>\n<p><strong>It was expected:<\/strong> Fayed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/061abaa9-10b4-484c-9ad1-ffc2aef8a84c\">had indicated last month<\/a> that completion of the transaction would depend on the state of the markets.<\/p>\n<p><strong>The 1H2020 IPO season is ending without an offering <\/strong>after state-owned e-payments firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bca51511-55be-4032-89ae-78ad3af8fa92\">E-Finance pushed its IPO date<\/a> to the final quarter of 2020 after having previously been expected to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d12f629a-4a0c-47e0-8286-84e15c079439\">go public this month<\/a>. No private-sector companies are in the market now, and no serious analyst expects the government to go ahead with stake sales of already-listed SoCs in the current climate. As one of the smartest guys we know in finance put it yesterday: <strong>\u201cThe market for new equity offerings in this part of the world is dead until fall, probably late fall, at the earliest.\u201d<\/strong><\/p>\n<p><strong>Background:<\/strong> BdC was hoping to raise some USD 500 mn via its IPO on the EGX this month in what was expected to be the country\u2019s <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N2C002W\">biggest sale of state assets<\/a> since 2006. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e0bdf8f-3e92-41bc-bca8-0c446b77dea7\">The European Bank for Reconstruction and Development<\/a>, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/163fbf90-6fe3-4c26-8f1a-da075ede540c\">Sovereign Fund of Egypt, and Abu Dhabi Development Holding<\/a> were reportedly considering purchasing a stake.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- Banque du Caire postpones IPO on market turmoil, chairman confirms: State-owned Banque du Caire (BdC) has shelved plans to debut 20-30% of its shares on the EGX in April thanks to fallout from the covid-19 pandemic, Chairman Tarek Fayed confirmed to Al Masry Al Youm in an interview published yesterday. \u201cPlans to offer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[3816,726,68,72,370,2380,1901],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570733","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-abu-dhabi-development-holding","tag-banque-du-caire","tag-egx","tag-enterpriseam","tag-sovereign-fund-of-egypt","tag-speed-round","tag-tarek-fayed","wpautop","entry"],"acf":{"mongo_id":"40690e96-1782-465c-b1ae-4e96bd528bea","is_powered_by":true,"section_story_id":"ef7701a0-d587-43d5-83be-5cd65ef90328","story_type":"1","photo_url":"","photo_position":"above","related_issue":[570724],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The bank had planned\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570130,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/19\/banque-du-caire-shelves-ipo-on-market-volatility-sources\/","url_meta":{"origin":570733,"position":1},"title":"Banque du Caire shelves IPO on market volatility -sources","author":"enterpriseam admin","date":"19 March 2020","format":false,"excerpt":"IPO WATCH- Banque du Caire shelves IPO on market volatility -sources: State-owned Banque du Caire (BdC) has postponed plans to debut 20-30% of its shares on the EGX in April due to market volatility, the domestic press reports, citing unnamed sources involved with the state privatization program. This was telegraphed\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/227.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591742,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/16\/banque-du-caire-to-offer-49-stake-by-1q2020\/","url_meta":{"origin":570733,"position":2},"title":"Banque du Caire to offer 49% stake by 1Q2020","author":"enterpriseam admin","date":"16 December 2019","format":false,"excerpt":"IPO Watch- Banque du Caire to offer up to 49% in 1Q2020 IPO: State-owned Banque du Caire (BdC) could sell as much as 49% of its shares in its upcoming IPO, which is expected to hit the EGX in 1Q2020, Chairman Tarek Fayed tells Al Arabiya (watch, runtime: 1:58). 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The bank had planned to float 20-30% of its\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/217.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569699,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/uncertainty-over-bdc-ipo-date-as-covid-19-roils-markets\/","url_meta":{"origin":570733,"position":4},"title":"Uncertainty over BdC IPO date as covid-19 roils markets","author":"enterpriseam admin","date":"4 March 2020","format":false,"excerpt":"PRIVATIZATION WATCH- Uncertainty over BdC April IPO as covid-19 roils markets: State-owned Banque du Caire (BdC) plans to make its EGX debut in April with a USD 500 mn sale, provided that covid-19\u2019s impact on the markets doesn\u2019t stunt demand among investors, Chairman Tarek Fayed told Reuters. \u201cOur plan is\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/54.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568848,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/05\/egypts-banque-du-caire-to-offer-45-stake-in-1h2020-ipo\/","url_meta":{"origin":570733,"position":5},"title":"Egypt\u2019s Banque du Caire to offer 45% stake in 1H2020 IPO","author":"enterpriseam admin","date":"5 February 2020","format":false,"excerpt":"IPO WATCH- Banque du Caire to offer 45% stake in 1H2020 IPO: State-owned Banque du Caire (BdC) will offer a 45% stake on the EGX in 1H2020, Banque Misr Chairman Mohamed Eletreby said, according to Reuters. 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