Arab Finance: Helikon Long Short Equity Fund Master ICAV acquired a 6.89% stake in Banque du Caire for EGP 5.567 billion, according to a bourse disclosure.
The fund purchased 1.050 billion shares in the recently listed bank at an average price of EGP 5.30 per share.
Commercial International Brokerage Company (CIBC) executed the transaction on October 29.
Both the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) recently announced an investment of $100 million in Banque du Caire’s initial public offering (IPO).
Banque du Caire commenced trading on the Egyptian Exchange (EGX) on November 2, following the completion of a 45% stake offering worth EGP 36.371 billion, which marks the largest public offering in the history of Egypt's capital market.
