Bank of Cairo to sell 30% shares
Cairo Bank has announced its intention to issue 30% of its shares on the Egyptian Stock Exchange by selling 4.575 billion shares, aiming to attract qualified investors and individual clients. The share offering and trading are expected to take place in November, following the approval of necessary regulatory authorities. This move represents a significant step in the Egyptian government's strategy to expand private sector participation in the economy. The announcement comes after previous delays due to market volatility and the impacts of the COVID-19 pandemic, and it reflects the bank's approach to strengthening its presence in the market and developing as a publicly listed institution.
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