Banque du Caire has announced its intention to proceed with an initial public offering (IPO) of its ordinary shares on the Egyptian Exchange (EGX), marking a significant milestone in the bank’s development and capital market presence.
The proposed offering is expected to involve the sale of 4.575 billion existing ordinary shares held by Banque Misr, representing 30% of Banque du Caire’s issued share capital.
Banque du Caire IPO to Include Private and Public Offerings
The planned IPO will comprise two tranches: a private offering to qualified investors in Egypt and selected international markets, and a public offering open to investors in Egypt.
The private offering is expected to target qualified institutional buyers in the United States under Rule 144A of the U.S. Securities Act of 1933, as amended, and investors outside the United States in reliance on Regulation S.
The bank is currently working to secure the required regulatory approvals, including approval from the Financial Regulatory Authority (FRA) for the public offering prospectus, registration of the bank’s shares, and the necessary approvals from the Egyptian Exchange.
Subject to the required approvals, subscriptions are expected to be completed toward the end of October 2026, with trading anticipated to begin during November 2026.
CI Capital and EFG Hermes Appointed as Offering Advisers
Banque du Caire has appointed CI Capital Investment Banking as Lead Global Coordinator and Joint Bookrunner, while EFG Hermes Promoting & Underwriting will serve as Joint Global Coordinator and Joint Bookrunner for the offering.
Baker McKenzie LLP has been appointed as legal counsel to the bank and the selling shareholder on U.S. and English law matters, while Helmy, Hamza & Partners, a member firm of Baker McKenzie International, will serve as Egyptian legal counsel.
Banque du Caire CEO Highlights Strategic Importance of the IPO
Commenting on the planned offering, Hussein Abaza, Managing Director and Chief Executive Officer of Banque du Caire, said the proposed listing represents an important milestone in the bank’s long-standing history.
He highlighted the bank’s diversified business across retail banking, corporate banking, small and medium-sized enterprises (SMEs), and microfinance, supported by a focus on profitability, disciplined risk and portfolio management, and maintaining a strong balance sheet.
Abaza added that the bank looks forward to welcoming new investors and engaging with the market as it enters the next phase of its development as a publicly listed institution.
التعليقات