Egypt to Resume IPOs of State-Run Firms by End of March, Minister Says

Egypt to Resume IPOs of State-Run Firms by End of March, Minister Says

Egypt's government plans to resume its program to offer stakes in state-run firms by the end of March, with Banque du Caire's IPO expected to be second in a line-up of three companies on offer , Public Enterprise Minister Hisham Tawfik said.. The effort was part of a broader plan to revive the economy and authorities had hoped to raise around 100 billion Egyptian pounds ( $6.4 billion ) from the sale of stakes in more than 20 companies.. Central bank Governor Tarek Amer has said Egypt could sell a stake of up to 30% in the bank, one of the country's largest..