Egyptian Banks See More IPOs After Arabian Cement Share Sale

Egyptian investment banks expect at least two companies to sell shares to the public in the next 12 months after Arabian Cement Co. ended an almost four-year drought.

EFG-Hermes Holding SAE, Egypt’s biggest publicly traded investment bank, and CI Capital Holding, a unit of the largest listed lender Commercial International Bank Egypt SAE, each said they expect to help two companies offer stock. It wasn’t immediately clear if their mandates overlapped. The two served as joint global coordinators and book runners in the $110 million initial public offering of Arabian Cement.