Government mulls adding Ebank to IPOs Program

Egyptian government is studying the possibility of adding the Export Development Bank of Egypt (Ebank) to the initial public offerings (IPOs) program in the coming period, sources familiar with the matter told Al Mal on April 9th.

On February 8th, the Cabinet announced that it would offer 32 state-owned companies and banks for sale on the Egyptian Exchange (EGX), or to strategic investors.

Founded in 1985, Ebank is a financial institution aiming to promote and facilitate Egyptian exports in all sectors, including agricultural, industrial and commercial.