Cairo Bank offering reaches top of range in first hours
The process of offering 30% of Banque du Caire's capital on the Egyptian Stock Exchange has begun, with the subscription coverage reaching the maximum limit within the first three hours of the offering launch. The offering is divided into two parts: a private placement for qualified investors, which includes 95% of the shares (4.346 billion shares), and a public offering for the general public, comprising 5% (228.75 million shares). The fair value per share has been set at 5.30 Egyptian pounds, and it is expected that the results of the offering and the pricing process will determine the final share price. Analysts anticipate that the success of this offering will pave the way for a new wave of government listings in the Egyptian market.
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