{"id":650245,"date":"2017-03-20T04:06:56","date_gmt":"2017-03-20T04:06:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/20\/govt-considers-putting-49-of-banque-du-caire-up-for-sale\/"},"modified":"2017-03-20T04:06:56","modified_gmt":"2017-03-20T04:06:56","slug":"govt-considers-putting-49-of-banque-du-caire-up-for-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/20\/govt-considers-putting-49-of-banque-du-caire-up-for-sale\/","title":{"rendered":"Gov\u2019t considers putting 49% of Banque du Caire up for sale"},"content":{"rendered":"

<\/a> The government is considering selling up to 49% Banque du Caire as part of the ongoing <\/strong>IPO process<\/strong>, Al Shorouk<\/a> reports, citing unnamed \u201csenior banking officials.\u201d The offering will reportedly include an international offer to institutional investors (29%) and a domestic offer to retail investors on the EGX (15%), while 5% of the company\u2019s shares would trade as global depositary receipts on the London Stock Exchange to \u201cattract foreign investors,\u201d Al Shorouk writes. Sources expect the IPO is on track for 1H17. Banque du Caire\u2019s general assembly will meet early next month to approve the sale and ratify the bank\u2019s financials. The EGX had approved last month<\/a> the bank\u2019s listing of 562.5 mn shares at par value of EGP 4 per share, giving it an initial market capitalization of EGP 2.25 bn. EFG Hermes and HSBC are managing the issuance, while Baker McKenzie are legal advisors.<\/p>\n

Meanwhile, state-owned energy company Enppi will hold a general assembly on 26 March <\/strong>to approve going ahead of an IPO<\/strong>, government sources reportedly told Al Borsa<\/a>. The story takes pains to point out that the sources suggest the vote is not simply a formality, but a crucial step in the IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government is considering selling up to 49% Banque du Caire as part of the ongoing IPO process, Al Shorouk reports, citing unnamed \u201csenior banking officials.\u201d The offering will reportedly include an international offer to institutional investors (29%) and a domestic offer to retail investors on the EGX (15%), while 5% of the company\u2019s shares […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650245","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"462872b8-b2b5-4447-97ae-04e11ffc91da","order":"0","is_powered_by":true,"section_story_id":"4602640e-9c4e-4b00-9bb7-14b8598614b7","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650238],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t considers putting 49% of Banque du Caire up for sale - 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This was telegraphed\u2026","rel":"","context":"In "Speed Round"","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":635621,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/10\/banque-du-caire-ipo-in-3q2018-amer-says\/","url_meta":{"origin":650245,"position":2},"title":"Banque du Caire IPO in 3Q2018, Amer says","author":"enterpriseam admin","date":"10 December 2017","format":false,"excerpt":"IPO WATCH- Banque du Caire will IPO in 3Q2018, CBE Governor Tarek Amer said in a statement to the press at the Business for Africa and the World Summit on Thursday, Al Borsa reports. 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