MIBank shares surge

CAIRO - Shares in Egypt’s Misr International Bank (MIBank) surged on Tuesday amid speculation a state-owned stake in the bank could soon be sold, while the market overall was broadly steady, dealers said.

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Published: Thu 9 Dec 2004, 9:46 AM

Last updated: Thu 2 Apr 2015, 11:46 AM

MIBank closed almost 11 per cent higher on rumours that two bids were already on the table for the 25 per cent stake owned by state-owned Banque Misr.

Banque Misr officials could not immediately be reached for comment, but MIBank Chief Financial Officer Sherif Samy said no buyers had yet approached MIBank.

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