Skip to content
Subscriber Only

Banque Misr Targets 10 Billion Pound Stake Sales to Boost Growth

  • State-run lender looking to sell stake in Cairo Amman Bank
  • Banque Misr expects to finalize Banque Du Cairo IPO in 4Q

Banque Misr wants to raise 10 billion Egyptian pounds ($568 million) through the sale of stakes in four companies and two banks, including Cairo Amman Bank, to boost liquidity, its vice chairman, Atef El Maghraby, said in an interview.

Talks to sell Banque Misr’s 10.78 percent stake in Cairo Amman are preliminary, and the deal is expected to be finalized this year, El Maghraby said in an interview., While several investors have shown an interest, no offers have yet been extended, he said.