Egypt’s financial regulator approves Banque Du Caire IPO prospectus for 30% stake worth up to EGP 24.25bn

Egypt’s Financial Regulatory Authority (FRA) on Sunday approved the prospectus for the offering of Banque du Caire shares on the Egyptian Exchange (EGX), clearing the way for the sale of a 30% stake valued at up to about EGP 24.25bn, according to the head of the state-owned companies unit.

The prospectus covers up to 4.575 billion shares, representing 30% of Banque du Caire’s capital, through a secondary offering of existing shares, said Hashem El-Sayed, Assistant to the Prime Minister and Head of the State-Owned Companies Unit. The shares are currently held by state-owned Banque Misr, according to an earlier statement from Banque du Caire.

El-Sayed said 95% of the offering will be allocated to a private placement for qualified investors and 5% to a public offering for retail investors. The indicative price range is set at between EGP 4.82 and EGP 5.30 per share, putting the total value of the offered shares at about EGP 24.25bn at the top of the range. The offering size may be increased to 45% in accordance with the approved rules, he added.

Purchase orders will be received between 19 and 23 October 2026, with the final offer price to be announced no later than 26 October 2026, based on the bookbuilding mechanism and the results of investor demand, El-Sayed said.

The approval comes about nine years after the bank’s shares were temporarily listed on the exchange on 8 February 2017. It moves forward the completion of the offering and final listing procedures as part of the state’s efforts to implement the government offerings programme and broaden the ownership base of state-owned companies.

El-Sayed said the step reflects the unit’s working methodology, which aims to accelerate the government offerings programme through institutional coordination with relevant authorities, completing financial studies and valuations, reviewing companies’ readiness for listing, and resolving technical, regulatory and legal challenges. He said this ensures the transition from temporary listing to actual offering in line with the rules governing the capital market.

He added that the approval of the prospectus forms part of an integrated programme for managing state-owned companies, which seeks to maximise the value of assets, expand private sector participation, and improve the efficiency and governance of company management. He said this is consistent with the state’s direction, the State Ownership Policy Document and the provisions of Law No. 170 of 2025.

The government offerings programme has seen the temporary listing of about 28 state-owned companies on the EGX, as part of a drive to complete the offering and final listing of eligible companies, with the aim of deepening Egypt’s capital market and creating new investment opportunities.

Banque du Caire, led by Chief Executive Officer Hussein Abaza, announced its intention to float on the EGX earlier this month, with trading expected to begin in November. CI Capital Investment Banking is acting as lead global coordinator and joint bookrunner, with EFG Hermes Promoting & Underwriting as joint global coordinator and joint bookrunner. The bank reported a net profit after tax of EGP 8.94bn in the first half of 2026.