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Banque du Caire Sets Stock Offering Range
Cairo Bank announced the indicative price range for its offering of 30% of its shares on the Egyptian Exchange, approximately 4.58 billion shares. The offering includes the sale of a portion of the shares owned by Egypt’s Banque Misr, the selling shareholder, along with a private placement for qualified investors both domestically and internationally, as well as a public subscription. The price range has been set between 4.82 and 5.30 Egyptian pounds per share, reflecting a market value between 73.5 billion and 80.8 billion Egyptian pounds. The final offering price is expected to be determined on October 26, with trading likely to commence in early November. The goal of the offering is to attract new investors and strengthen the bank’s financial position. The offering is being managed by CI Capital and EFG Hermes, with all necessary legal procedures being completed.
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