Evaluating the Outcomes of the United Financial institution Sale
The Egyptian authorities is getting ready to restart the Financial institution Cairo supply within the coming interval after inspecting the outcomes of the sale of United Financial institution, and can also be exploring the potential of together with CI Capital, together with Hermes, to handle the supply.
Putting 49% of Banque du Caire on the Inventory Trade
Knowledgeable sources instructed Al Borsa newspaper that the federal government is getting ready to position 49% of Banque du Caire on the inventory alternate between private and non-private placements for monetary establishments earlier than the tip of this yr.
The federal government has begun preparations for the financial institution with an preliminary valuation within the vary of $550 million to $600 million, the sources added, and it’s possible that the position will happen within the fourth quarter of this yr, explaining that the present valuation is down from the final. the financial institution’s valuation earlier than the “coronavirus” disaster, which was round $700 and $750 million.
Market Ready for Resolution on Financial institution’s Proposal
The market is ready for a call on the steps to be taken on the financial institution’s proposal, particularly after the deadline set by the Monetary Supervision Authority for itemizing on the inventory alternate expired final March.
Sources indicated that the federal government will resume negotiations with the position managers within the coming interval to finalize the position procedures.