Arab Finance: EFG Hermes, a subsidiary of EFG Holding, has successfully concluded its advisory role as joint global coordinator and bookrunner on Banque du Caire’s initial public offering (IPO) on the Egyptian Exchange (EGX), according to a press release.

The transaction, the largest IPO in EGX history in EGP terms, marks EFG Hermes’ third EGX IPO in 2026, following  Gourmet Egypt in February and MNT-Halan in October.

The total offering size reached EGP 36.37 billion ($658 million), representing 6.862 billion ordinary shares or 45% of the bank’s total issued share capital sold by Banque Misr as the selling shareholder at the top end of the price range, EGP 5.30 per share.

At the final offer price, Banque du Caire’s implied market cap reached EGP 80.83 billion ($1.46 billion).

The offering witnessed cornerstone and strategic commitments from the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), Helikon Investments, Sustainable Capital, Redwheel, and Waha Capital.

The public offering tranche was 27 times oversubscribed, reflecting a demand of EGP 49.2 billion ($921 million).

Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented: “This offering marks an important step in the return of state-owned assets to the Egyptian Exchange and reflects growing confidence in the market’s ability to attract both domestic and international capital.”

He added: “More than a new listing, Banque du Caire’s IPO marks a significant step in the return of state-owned offerings to the Egyptian Exchange and reinforces the role of capital markets as a central pillar of Egypt’s privatization and economic reform agenda.”

With the IPOs currently in the pipeline for execution before year-end and in early 2027, EFG Hermes continues to demonstrate its ability to bring high-quality issuers to market and attract both domestic and international capital.