Sunday 16, September 2018 by Kudakwashe

HSBC to lead AMOC listing, says finance ministry


The Egyptian government is selling minority stakes in public companies on the stock exchange.

The Egyptian finance ministry has announced HSBC as the lead bank to manage a public offering for a 20 per cent stake in the Alexandria Mineral Oils Company (AMOC) in a bid to raise up to EGP 2.8 billion ($156 million), reported Reuters.

The announcement follows through on pledges by the Government to sell stakes of as many as 20 public sector companies on the Egyptian exchange.

The other companies that would see additional stakes offered are Heliopolis Housing, Abou Kir Fertilisers & Chemical Industries as well as Alexandria Container & Cargo Handling and Eastern Tobacco.

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