Arab Finance: The Financial Regulatory Authority (FRA) approved the prospectus for a 30% share offering in Egyptian state-owned lender Banque du Caire, with an indicative value of approximately EGP 24.25 billion at the upper end of the proposed price range, as per a statement.
The secondary offering on the Egyptian Exchange (EGX) covers up to 4.575 billion existing shares, according to Hashem El-Sayed, assistant to the prime minister and head of the Cabinet’s State-Owned Enterprises Unit.
Qualified investors will receive a 95% allocation through a private placement, while the remaining 5% will be offered to the public. The indicative price range is EGP 4.82 to EGP 5.30 per share, with scope to increase the stake offered to 45%, subject to the approved rules.
Purchase orders will be accepted from October 19 to October 23, 2026. The final price will be determined through book-building based on investor demand and announced no later than October 26.
The approval moves the bank, an Egyptian joint-stock company, closer to completing its offering and final listing procedures. Its shares were provisionally listed on February 8, 2017, more than nine years ago.
