Arab Finance: Trading on Banque du Caire's stock on the Egyptian Exchange (EGX) began on Monday, November 2, following the completion of a 45% stake offering worth EGP 36.371 billion, marking the largest public offering in the history of Egypt's capital market.

Speaking at the bell-ringing ceremony, Omar Radwan, Chairman of the EGX, stated that the start of trading of the Banque du Caire's shares marks a milestone in the evolution of the Egyptian capital market, reflecting confidence in the resilience of the Egyptian economy and the attractiveness of its investment environment.

Moreover, Radwan said the offering's public tranche was oversubscribed more than 27 times, while the private tranche attracted strong interest from regional and international institutional investors.

The EGX Chairman added that the success of the offering highlights the Egyptian market’s capacity to accommodate and execute major and significant offerings.

The successful offering supports the state’s goals to develop the market's institutional and legislative framework, including the introduction of innovative financial instruments to meet the needs of retail investors, institutions, and major investment funds. These efforts could reinforce EGX’s position as a leading financial hub and support sustainable financing for major national institutions.