April 18, 2019 / 1:48 PM / 9 months ago

Egypt's Banque du Caire eyeing sale of 20-30 pct stake for $300-400 mln

CAIRO, April 18 (Reuters) - The head of Egypt’s Banque du Caire said on Thursday the bank was aiming to raise $300-400 million by selling a 20-30 percent stake by the end of 2019.

Chairman and Chief Executive Tarek Fayed told reporters that the timing of the initial public offering depended on market conditions.

A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years. (Reporting by Afaf Ammar and Patrick Werr Writing by Aidan Lewis, Editing by Alexandra Hudson)

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