Cairo – Mubasher: Banque Misr is looking to offer up to 45% of Banque du Caire on the Egyptian Exchange (EGX) during the first half of 2020, Reuters reported on Tuesday, citing the bank’s chairman Mohamed El-Atreby as saying.  

The bank may also sell a stake in the bank to a foreign investor in the anticipated initial public offering (IPO), El-Atreby added.

“The selling will be inside Egypt, there will be no global depository receipts (GDR),” he pointed out.

Plans to sell the bank date back to 2008, but then the deal was cancelled. The IPO has also been put on hold several times over the last three years.