CAIRO: Egypt's National SocieteGenerale Bank NSGB shares rose 1.3 percent at the open of trade on Tuesday despite a report indicating its sale valuation was lower than the market expected.
Three sources told Reuters on Monday that SocieteGenerale was nearing the sale of its majority stake in NSGB to Qatar National Bank (QNB) at a price that would value all of the Cairo-based bank at about $2.6 billion.
That is below NSGB's stock market value of around $3.2 billion, based on Sunday's closing price. (Reuters)
