Egypt's cabinet has approved the offering of up to 45% of Banque du Caire's shares on the Egyptian Exchange (EGX), according to an official letter addressed to the Financial Regulatory Authority (FRA).

In a statement issued on Wednesday, Banque du Caire said the cabinet had approved the sale of a stake ranging from 30% to 45% during its 116th meeting, held on October 22, 2026.

The cabinet also directed the FRA to take the necessary regulatory measures, in coordination with Banque Misr, the state-owned lender that owns Banque du Caire, to complete the bank's listing procedures on the EGX.

On October 18, the FRA approved Banque du Caire's public and private offering prospectus, requiring the bank to provide evidence of cabinet approval before its shares could begin trading.

The requirement was based on Article 11 of Law No. 170 of 2025, which regulates certain aspects of state ownership in wholly or partially state-owned companies. The decision also referenced correspondence from Banque Misr dated October 14 and the CEO of the State-Owned Enterprises Unit dated October 15, 2026.

Earlier this week, the FRA announced that it had no objection to increasing the proportion of Banque du Caire shares offered through the public and private tranches from 30% to 45% of the bank's total issued share capital.

Subscriptions to the retail tranche of Banque du Caire's initial public offering (IPO) on the EGX are set to close on Wednesday, October 28, after the offering reached a subscription coverage ratio of approximately 6.7 times by the close of trading on Tuesday.

Meanwhile, Banque du Caire announced on Monday that its private placement had closed with an overall subscription coverage ratio of six times, rising to 19.8 times when excluding shares allocated to qualified investors.

The bank said the book-building process resulted in a final IPO price of EGP 5.30 per share.