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 agreements were concluded in cooperation with Banque Misr, Banque du Caire’s main shareholder.
The official said the investment banks managing the deal, in coordination with Banque Misr and the Central Bank of Egypt, agreed to delay the offering by three to four months due to ongoing geopolitical tensions in the Middle East, as well as weaker market activity during the summer period.
This potential purchase is part of Egypt's ongoing efforts to privatize state-owned assets, a program that has faced delays, according to regional media reports.
The ratings agency updated its outlook for the National Bank of Egypt, Banque Misr, Banque du Caire, and the Commercial International Bank (CIB) to positive
