Two Expected IPOs Bring Hope to Egypt’s Subdued Stock Market
- Investors had few new offerings in an underperforming market
- Government plans IPOs of Banque du Caire, e-Finance early 2020
Photographer: Shawn Baldwin/Bloomberg
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Egypt’s ailing stock market could find a much-needed jolt of liquidity from two state-owned enterprises set to go public early next year.
The long-awaited initial public offering of one of the biggest banks in the country, Banque du Caire, in particular could draw funds from outside the region, according to Hasnain Malik, head of equity strategy at Tellimer in Dubai.