Egypt’s Financial Regulatory Authority (FRA) on Sunday approved the prospectus for the offering of Banque du Caire shares on the Egyptian Exchange (EGX), paving the way for the sale of a 30% stake valued at up to approximately EGP 24.25 billion.
Hashem El-Sayed, Assistant to the Prime Minister and Head of the State-Owned Companies Unit, said the prospectus covers up to 4.575 billion existing shares, representing 30% of the bank’s capital. The shares are currently owned by state-owned Banque Misr, according to an earlier statement from Banque du Caire.
95% of the Offering Allocated to Qualified Investors
El-Sayed said 95% of the offering will be allocated to a private placement for qualified investors, while the remaining 5% will be offered to retail investors through a public offering.
The indicative price range has been set at EGP 4.82 to EGP 5.30 per share, valuing the offered stake at approximately EGP 24.25 billion at the upper end of the range.
He added that the offering size could be increased to 45% of the bank’s capital in accordance with the approved rules.
Subscription Orders to Be Received from 19 to 23 October
According to El-Sayed, subscription orders will be received from 19 to 23 October 2026, with the final offer price expected to be announced no later than 26 October.
The final price will be determined through the bookbuilding process, taking into account investor demand and the results of the offering.
The FRA’s approval comes nearly nine years after Banque du Caire’s shares were temporarily listed on the EGX on 8 February 2017, paving the way for the completion of the offering and final listing procedures.
Offering Supports Egypt’s Government Privatisation Programme
El-Sayed said the approval reflects the State-Owned Companies Unit’s efforts to accelerate the government offerings programme through coordination with relevant authorities, completion of financial studies and valuations, assessment of companies’ readiness for listing, and resolution of technical, regulatory, and legal challenges.
He added that the offering forms part of a broader programme to manage state-owned companies, maximise asset value, expand private-sector participation, and improve corporate governance and management efficiency.
The programme is aligned with the state’s direction, the State Ownership Policy Document, and the provisions of Law No. 170 of 2025.
Around 28 state-owned companies have been temporarily listed on the EGX under the government offerings programme. The government aims to complete the offerings and final listings of eligible companies, deepen Egypt’s capital market, and create additional investment opportunities.
Trading Expected to Begin in November
Banque du Caire, led by Chief Executive Officer Hussein Abaza, announced earlier this month its intention to float shares on the EGX, with trading expected to begin in November.
CI Capital Investment Banking is acting as lead global coordinator and joint bookrunner, while EFG Hermes Promoting & Underwriting is serving as joint global coordinator and joint bookrunner.
The bank reported net profit after tax of EGP 8.94 billion in the first half of 2026, ahead of the anticipated market debut.
The offering is expected to represent a significant step in Egypt’s government asset-sale programme, while providing investors with an opportunity to acquire a stake in one of the country’s established banking institutions.
