Cairo – Mubasher: Three banks are seeking to manage the sale of Chemical Industries Holding Co’s 4% stake in Eastern Co on the Egyptian Exchange (EGX).
Pharos Holding for Financial Investments and Arab African Investment Holding, a subsidiary of Arab African International Bank (AAIB) are among the banks, sources told Almal News.
Earlier this week, public enterprise minister Khaled Badawy said that Chemical Industries will launch a bid to select an investment bank to manage the sale.
Badawy noted that Eastern Co will offer an additional stake for sale on EGX this month following the Eid Al Fitr holiday to be the first firm to float additional shares in the government initial public offerings (IPO) programme.
