The Egyptian government is preparing to resume the procedures for offering Banque du Caire during the coming period, after the sale of The United Bank, and is also studying using CI Capital and Hermes to manage the offering. Informed sources revealed to Daily News Egypt that the Egyptian government is preparing to offer 49% of Banque du Caire on the Egyptian Exchange before the end of this year. The sources added that they are awaiting the results of the promotional tour conducted by the managers of The United Bank offering to resume the procedures for offering Banque du Caire again, in addition to the offers of investors and the final evaluation of the sale of the bank. Chairperson of Banque Misr, Mohamed El-Etreby, said at the time that the deal to return the ownership of Banque du Caire to Banque Misr in a deal worth EGP 7bn is merely a restructuring of Banque du Caire’s ownership to be under Banque Misr instead of Misr Capital for Investments. Last January, the Securities Committee of the Egyptian Exchange decided to increase the authorized capital of Banque du Caire, from EGP 10bn to EGP 20bn.
