Banque du Caire has signed investment agreements with a group of qualified investors to purchase approximately 63% of the first tranche of its private offering, according to a disclosure submitted to the Egyptian Exchange (EGX).
The agreements were concluded in cooperation with Banque Misr, Banque du Caire’s main shareholder. Under the agreements, each investor has independently committed to purchasing a specified number of shares at the final offering price, subject to the fulfilment of the applicable conditions.
The investors include Mauritius-based Sustainable Capital Limited, which has committed to acquiring up to 18% of the private offering’s first tranche, and Redwheel-affiliated entities RWC Asset Advisors, based in New York, and RWC Asset Management LLP, which have secured a combined allocation of up to 11%.
The list also includes UAE-based Waha Investments Limited, with an allocation of up to 9%, and Helikon Investments Limited, acting as investment manager for Ireland-incorporated Helikon Long Short Equity Fund Master ICAV, with an allocation of up to 25%.
The bank noted that the investment percentages remain subject to the terms and conditions of the individual agreements, which may vary among investors. The number of shares allocated to each investor will be announced alongside the offering results, based on the final price and the terms of the respective agreements.
Banque du Caire Offering Targets 30% of Issued Capital
The EGX opened the special deals market on Monday to receive purchase orders for Banque du Caire shares as part of a combined public and private offering targeting the sale of up to 4.575 billion shares, representing 30% of the bank’s issued share capital.
The offering comprises two tranches designed to broaden the bank’s shareholder base and facilitate secondary-market trading in its shares.
The private tranche consists of up to 4.34625 billion shares, representing 95% of the total offered shares and 28.5% of the bank’s issued capital. The indicative price range has been set at EGP 4.82–5.30 per share.
The public offering, meanwhile, comprises up to 228.75 million shares, equivalent to 5% of the total offering.
Public Offering Attracts Nearly 97 Million Shares in Orders
Purchase orders for the public tranche reached approximately 97 million shares on the first day of subscription, according to a source familiar with the matter. This represents around 42.4% of the 228.75 million shares allocated to the public offering.
The indicative price for the public tranche is EGP 5.30 per share, while the order-taking period is scheduled to continue through October 28.
The final offering price will be determined after the private tranche closes, based on the book-building mechanism.
The transaction marks a step toward expanding public ownership of Banque du Caire and increasing the availability of its shares for trading on the Egyptian stock market.
