HSBC named lead bank for 20 percent listing of Egypt’s AMOC – ministry


CAIRO (Reuters) – Egypt has named HSBC as lead bank to manage a public offering for a 20 percent stake in the Alexandria Mineral Oils Company (AMOC) in a bid to raise up to 2.8 billion Egyptian pounds ($156 million), the finance ministry said on Friday.

The government is selling minority stakes in public companies on the stock exchange as it aims to draw investment and raise 80 billion Egyptian pounds.

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