Banque du Caire sets EGP4.82–5.30 indicative range for 30% EGX IPO

Banque du Caire S.A.E. has set an indicative price range of EGP4.82 to EGP5.30 per ordinary share for its initial public offering on the Egyptian Exchange. The offering covers 4,575,000,000 existing shares, equal to 30 percent of the bank’s issued share capital.

At that range, the offering would be valued at between EGP22.05 billion and EGP24.25 billion ($453 million). The bank’s market capitalization would fall between EGP73.51 billion and EGP80.83 billion. The final price will be determined through a book-building process for the private offering.

Banque Misr S.A.E. is selling the shares in a secondary sale, meaning the transaction involves existing stock rather than new capital raised by the bank. The private placement covers 4,346,250,000 shares and is aimed at qualified investors in Egypt and several other countries. That includes qualified institutional buyers in the United States under Rule 144A of the Securities Act of 1933, as amended, and investors outside the United States under Regulation S. A separate public offering in Egypt covers 228,750,000 shares.

The public tranche is the smaller part of the transaction and is open to subscribers in Egypt. The private placement is reserved for qualified investors. Banque du Caire is still seeking the approvals required for the offering.

The private offering’s book-building period is scheduled for October 19 to October 23, 2026. Public subscription will remain open until October 28. The offer price is expected to be announced on or before October 26, with trading expected to begin in early November.

Management view

Hussein Abaza, the bank’s managing director and chief executive, said the price range is an important step toward the shares trading on the exchange. He described Banque du Caire as one of Egypt’s largest banks, with a well-established and diversified franchise across retail, corporate, SME and microfinance banking. He said the bank’s approach focuses on profitable margins, disciplined risk and portfolio management, and a solid balance sheet. Abaza added that the bank looks forward to welcoming new investors and engaging with the market as it enters its next phase as a listed company.

Advisers

CI Capital Investment Banking S.A.E. is lead global coordinator and joint bookrunner. EFG Hermes Promoting & Underwriting S.A.E. is joint global coordinator and joint bookrunner. Baker McKenzie LLP is legal counsel to the bank and the selling shareholder on U.S. and English law. Helmy, Hamza & Partners, a member firm of Baker McKenzie International, is Egyptian legal counsel.

The shares are expected to begin trading in early November, after the offer price is set and the subscription periods close.