February 18, 2018 / 8:21 AM / a month ago

Qatar National Bank hires adviser for sale of small stake in Egypt unit

DUBAI/CAIRO, Feb 18 (Reuters) - Qatar National Bank (QNB) has hired CI Capital to advise it on the sale of a small stake in its Egyptian unit.

QNB plans to reduce its 97.125 percent stake in QNB Alahly to 95 percent, the bank said in a statement.

The sale is intended to comply with the rules of listing on the stock exchange, which requires that the free float shall not be less than 5 percent, it said.

Reporting By Tom Arnold and Nadine Awadalla; Editing by Saeed Azhar

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