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Report: Egypt's Banque du Caire targets IPO in H1

Egypt-based Banque du Caire SAE has sought to list its shares on the Egyptian stock exchange.

The state-run lender is targeting an IPO in the first half of 2017, Reuters reported Feb. 1, citing market sources.

EFG-Hermes and HSBC will reportedly serve as consultants for the IPO, which is part of the government's planned sales of stakes in some state assets to strengthen the Egyptian stock market and attract investors.