A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years CAIRO: The head of Egypt"s Banque du Caire said on Thursday the bank was aiming to raise $300-400 million by selling a 20-30 percent stake by the end of 2019. Chairman and Chief Executive Tarek Fayed told reporters that the timing of the initial public offering depended on market conditions. A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years.