The public tranche of Banque du Caire’s planned stock market offering attracted purchase orders for approximately 97 million shares on its first day, covering around 42% of the shares allocated to individual investors, according to data displayed on the Egyptian Exchange’s OPR screens.
The public offering includes 228.75 million shares, representing 5% of the total shares initially offered for sale. Subscription opened on Monday, October 19, alongside the private tranche targeting qualified investors.
The subscription window for institutional investors will remain open until Friday, October 23, while individual investors can place orders until Wednesday, October 28.
The final offering price is scheduled to be announced on October 26, with trading in Banque du Caire shares expected to commence in November, subject to regulatory approvals.
Offering Could Raise EGP 24.25 Billion
Banque du Caire plans to offer 4.575 billion existing shares, equivalent to 30% of its issued capital, through two tranches.
The private tranche comprises 4.34625 billion shares, accounting for 95% of the total offering and representing 28.5% of the bank’s issued capital. The public tranche accounts for the remaining 5% of the offered shares, equivalent to 1.5% of the bank’s capital.
The indicative price range has been set at EGP 4.82–5.30 per share. At the upper end of the range, the transaction could generate proceeds of approximately EGP 24.25 billion, implying a market valuation of around EGP 80.83 billion.
The shares being offered are currently owned by Banque Misr, the bank’s main shareholder. As a result, the transaction represents a secondary share sale, meaning the proceeds will accrue to Banque Misr rather than being injected into Banque du Caire as new capital.
Regulatory Approval Allows for a Larger Sale
The offering could be expanded through the sale of up to an additional 2.2875 billion shares, equivalent to 15% of the bank’s capital, subject to the necessary regulatory approvals and applicable conditions.
If the additional shares are included, the total number of shares offered would rise to 6.8625 billion, representing 45% of Banque du Caire’s capital.
The potential expansion is based on a resolution adopted by the bank’s ordinary general assembly on April 5, 2026. Any increase must be announced no later than three days before the public subscription period closes.
Final Pricing and Listing Timeline
The final offering price is expected on October 26, following the book-building process. Public subscriptions will close on October 28, while trading is expected to begin in November, subject to the completion of regulatory procedures.
The level of demand during the remaining subscription period, together with the outcome of the private placement, will help determine the final allocation and size of the transaction.
The listing is intended to broaden Banque du Caire’s shareholder base and increase the availability of its shares for trading on the Egyptian Exchange, while providing Banque Misr with proceeds from the sale of part of its existing stake.
