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Report: Egyptian central bank governor discloses lenders aimed for stock market listing

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Report: Egyptian central bank governor discloses lenders aimed for stock market listing

Central Bankof Egypt Governor Tarek Amer said that a 40% stake in and a 20% interest in Banquedu Caire SAE will be offered on the Egyptian stock market at theend of 2016, Reuters reported March 27.

Amer, who was speaking during a television interview onMarch 26, reportedly said that the government will offer 20% of Banque du Caireby increasing its capital through an IPO. In addition, 20% of Arab AfricanInternational Bank would be sold by the Egyptian government and the other 20%by the bank's Kuwaiti investors in the same way, according to Amer.

The central bank in January was considering two unnamed statelenders on the Cairo stock exchange.

Reuters reported that the government owns Banque du Caire.Each of the Central Bank of Egypt and the Kuwait Investment Authority has a49.37% stake in Arab African International Bank, according to SNL Financialdata.