September 6, 2018 / 7:45 AM / 19 days ago

Egypt to offer 4.5 pct stake in cigarette maker Eastern Company

CAIRO, Sept 6 (Reuters) - Egypt will launch its programme for offering shares in state companies by offering a 4.5 percent stake in its top cigarette maker Eastern Company, the finance ministry said in a statement on Thursday.

It named EFG Hermes as the advisor to the sale and said it expected to raise 2 billion Egyptian pounds ($112 million) from the offer. ($1 = 17.8600 Egyptian pounds) (Reporting by Ehab Farouk; Writing by Nadine Awadalla)

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