Banque du Caire plans 30% IPO by November
Cairo Bank plans to offer 30% of its shares on the Egyptian Exchange, totaling 4.57 billion shares, through the sale of a stake currently owned by Banque Misr. Trading is expected to commence at the end of October or the beginning of November, pending necessary regulatory approvals, including approval from the Financial Regulatory Authority. The offering includes a private placement for qualified international investors and a public offering for individual investors in Egypt. CI Capital and EFG Hermes have been appointed to manage the subscription process, along with legal counsel from Baker McKenzie. This offering represents a significant step in the bank’s expansion, aimed at enhancing its diverse banking services.
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