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Banque du Caire prepares to float a 30 per cent stake

Banque du Caire plans to float 30 per cent of its capital on the Egyptian Exchange. The sale of existing shares held by Banque Misr is intended for retail investors in Egypt and qualified institutions at home and abroad. Subject to approvals, subscriptions are planned for late October and trading for November. CI Capital and EFG Hermes are managing the offering.

Economics & Markets··Evening
An open door and arched bank teller counters with brass bars beside an Egyptian flag.

The existing shareholder would sell its shares

Egyptian lender Banque du Caire announced on 11 October that it intends to float 30 per cent of its capital on the Egyptian Exchange. The proposed offering targets retail investors in Egypt and qualified institutional investors in domestic and international markets. Banque Misr, a state-owned Egyptian bank, holds the shares to be sold.[1], [2]

The sale comprises 4.575 billion existing ordinary shares held by Banque Misr. The structure announced by the bank is a secondary sale of existing equity. It envisages Rule 144A for qualified institutional buyers in the United States and Regulation S for investors outside the United States.[1]

Subscriptions are targeted for late October

The bank is seeking the required clearances from Egypt’s Financial Regulatory Authority and the Egyptian Exchange. Subject to those approvals, subscriptions are targeted for late October and trading for November. CI Capital Investment Banking and EFG Hermes Promoting & Underwriting are managing the offering.[1]

The bank aims to operate as a listed institution

Managing Director and Chief Executive Officer Hussein Abaza said the bank aims to welcome new investors and engage with the market as a listed institution. Abaza joined in 2024. The lender’s business covers retail and corporate banking, small and medium-sized enterprise lending and microfinance. Its transformation programme began in 2018.[1]

References

  1. News sourceDaily News EgyptBanque du Caire plans an IPO of a 30% stake↩1↩2↩3↩4
  2. News sourceEgyptian StreetsBanque du Caire plans to offer a 30 per cent stake↩
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