The Egyptian government plans to sell a stake in Banque du Caire which is fully owned by Banque Misr, Egypt’s second largest state-run lender, the governor of the Central Bank of Egypt (CBE) Tarek Amer said, according to Bloomberg.
“The size is around 20%; might go up to 30%,” Amer said in an interview in Washington, where he attended the International Monetary Fund and World Bank annual meetings, Bloomberg concluded.
Selling the equity in Banque du Caire, one of the biggest state-owned lenders in Egypt, would be through the Egyptian Exchange (EGX) by the end of 2019, Amer added, according to Bloomberg.
“It’s not about money,” Amer highlighted, added, “We have a plan to support the stock exchange with new issues. There is a lot of demand.”