Banque du Caire IPO begins in Egypt

Egypt has commenced the subscription process for a 30% stake in state-owned Banque du Caire. The Financial Regulatory Authority approved the offering prospectus, marking a significant step in the government's privatization program to expand private sector participation and enhance capital market depth.

The offering involves the sale of up to 4.575 billion existing shares held by Banque Misr. The transaction is structured as a secondary offering, with 95% allocated to qualified investors through private placement and 5% to retail investors via public subscription. The indicative price range is set between 4.82 and 5.30 Egyptian pounds per share, valuing the stake at approximately 24.25 billion EGP (roughly $454 million). There is a possibility to increase the offering to 45% based on demand.

Subscription orders for qualified investors are scheduled from October 19 to October 23, 2026, while retail subscriptions continue through October 28. The final price will be determined by October 26 following a book-building process. CI Capital and EFG Hermes are serving as joint global coordinators and bookrunners. Trading on the Egyptian Exchange is expected to begin in November 2026.