Egypt’s Financial Regulatory Authority has approved a prospectus for Banque du Caire’s initial public offering, clearing the way for the sale of a 30% stake valued at up to 24.25 billion Egyptian pounds ($510 million) on the Egyptian Exchange.

The Banque du Caire IPO covers 4.575 billion existing shares held by state-owned Banque Misr, according to Hashem El-Sayed, assistant to the prime minister and head of the State-Owned Companies Unit. The indicative price range is 4.82 to 5.30 Egyptian pounds per share.

The offering is scheduled to accept purchase orders from October 19 to October 23, with the final price expected to be announced by October 26, El-Sayed said. The dollar equivalent of the maximum offering value is approximate.

Institutional investors to receive 95% allocation

The offering will be divided between a private placement for qualified investors and a public tranche for retail investors in Egypt.

El-Sayed said 95% of the shares would be allocated to the private placement, while the remaining 5% would be offered to the public. The offering could be increased to 45% of the bank’s capital under the applicable rules, he added.

The final price will be determined through bookbuilding, a process in which investors submit orders at different prices to help establish demand for the shares.

At the upper end of the indicative range, the 4.575 billion shares would be worth approximately 24.25 billion Egyptian pounds. The final proceeds will depend on the price set for the transaction and the number of shares ultimately offered.

The transaction is structured as a secondary offering, meaning the shares are being sold by an existing shareholder rather than newly issued by the bank to raise fresh capital for its operations.

Banque Misr, which owns Banque du Caire, is the selling shareholder. The sale will reduce its stake in the lender and broaden private investor participation in the bank’s ownership.

Listing advances Egypt’s state divestment programme

The regulatory approval marks a further step towards the completion of Banque du Caire’s offering and listing on the Egyptian Exchange, as the government seeks to expand private sector participation in state-owned businesses.

El-Sayed said the approval followed work on financial studies, valuations, listing readiness and regulatory requirements. The government is seeking to move companies from temporary listing status to completed offerings in line with capital market regulations.

The bank’s shares were temporarily listed on the Egyptian Exchange on February 8, 2017. The current offering advances a process that has been under consideration for several years.

Egypt’s government offerings programme includes state-owned companies being prepared for share sales and fuller market listings. The programme is intended to broaden ownership, attract private investment and deepen the country’s capital market.

El-Sayed said about 28 state-owned companies had been temporarily listed on the exchange under the programme. The government has been working with relevant institutions to resolve legal, technical and regulatory issues affecting planned transactions.

The Banque du Caire IPO is therefore part of a wider effort to bring state assets to the market, rather than an isolated share sale.

Bank reports 8.94 billion pounds in first-half profit

Banque du Caire reported net profit after tax of 8.94 billion Egyptian pounds in the first half of 2026, according to figures cited by Daily News Egypt.

The bank’s financial performance will be among the factors investors consider when assessing the offering, alongside its valuation, asset quality, earnings outlook and the wider economic environment.

The indicative price range gives prospective investors an initial reference point, but it does not determine the shares’ performance after listing. Market demand during the subscription period and the final offer price will help establish the terms under which investors acquire the shares.

The planned sale is also significant for Banque Misr, as it offers a route to reduce its ownership while allowing Banque du Caire to establish a broader shareholder base.

CI Capital and EFG Hermes coordinate the offering

CI Capital Investment Banking is acting as lead global coordinator and joint bookrunner, while EFG Hermes Promoting & Underwriting is serving as joint global coordinator and joint bookrunner.

The coordinators are responsible for supporting the offering process, including investor engagement and the placement of shares. The transaction’s progress will depend on the completion of the required procedures and the final terms of the sale.

Banque du Caire had announced its intention to offer 30% of its issued capital earlier in October, with trading expected to begin in November, subject to the relevant approvals and completion of the listing process.

The offering provides an opportunity for qualified investors and Egyptian retail investors to acquire shares in the lender, subject to the terms applicable to each tranche.