Egypt Independent

Egypt names HSBC lead bank for listing of Alexandria Mineral Oils Company



 

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.

 

Reporting by Ehab Farouk; editing by Jason Neely.