Banque du Caire was so nearly there.
The Egyptian lender was on track to complete a $500 million initial public offering in the spring of 2020. Everything was in place. Its owner, state-owned lender Banque Misr, had committed to offloading up to 30% of the Cairo-based bank.
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Underwriters HSBC and EFG Hermes had a slew of anchor investors, including the European Bank for Reconstruction and Development and the Sovereign Fund of Egypt, ready to buy up to $75 million worth of available stock.
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