HSBC named lead bank for 20% listing of Egypt’s state-run AMOC

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), Ministry of Finance announced on Friday.

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

Source: Reuters