Madbouly: Government Asset Sales Programme Continues After Banque du Caire Listing on the Stock Exchange
Published
Egyptian Prime Minister Mostafa Madbouly affirmed that the government will continue its programme of public offerings following the listing of Banque du Caire on the Egyptian Exchange. An offering means selling a portion of the shares of a state-owned company to investors and the public, with the aim of increasing the participation of the private sector in the economy.
According to reports, the valuation of Banque du Caire exceeded EGP 80 billion. Valuation is the total value that the market assigns to the bank, usually calculated by multiplying the share price by the number of shares.
The offering programme is part of the government's plan to develop the economy and attract investment. Through it, the government aims to revitalise the capital market and provide opportunities for citizens to invest in major companies.
Madbouly explained that the programme will continue in the coming period, although the available reports did not disclose further details about the targeted companies or the timing of new offerings. Citizens and investors will follow official announcements regarding this programme.
Sources: بوابة المصرف
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