Banque du Caire announces indicative price range for its initial public offering on the Egyptian Exchange
Banque du Caire S.A.E. (“BdC“, the “Bank” or the “Issuer“), one of the largest Egyptian banks with over 70 years of history, announces today the indicative price range for its initial public offering (the “IPO” or the “Offering”) of 4,575,000,000 existing ordinary shares, representing 30% of the Bank’s issued share capital, on the Egyptian Exchange (the “EGX”).
The Offering is expected to consist of a secondary sale of shares by Banque Misr S.A.E. (the “Selling Shareholder”) and will include:
(i) A private offering to qualified investors in Egypt and to qualified investors in a number of countries, including in the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in reliance on Regulation S under the Securities Act (the “Private Offering”) amounting to 4,346,250,000 shares; and
(ii) A public offering open for public subscription in Egypt (the “Public Offering”) amounting to 228,750,000 shares.
The indicative price range for the Offering has been set between EGP 4.82 and EGP 5.30 per ordinary share. The final offer price per share (the “Offer Price”) will be determined in accordance with a book-building process in relation to the Private Offering.
The indicative price range for the Offering translates to an Offering size between EGP 22.05 billion and EGP 24.25 billion and a market capitalization between EGP 73.51 billion and EGP 80.83 billion.
Expected Timetable
Book-building period for the Private Offering: Monday, 19 October 2026 – Friday, 23 October 2026
Subscription period for the Public Offering: Monday, 19 October 2026 – Wednesday, 28 October 2026
Announcement of the Offer Price: on or before Monday, 26 October 2026
Expected First Day of Trading: Early November
The above dates are indicative and may change, including through any extension of the order periods in accordance with the PSN and subject to the necessary regulatory approvals.
The Bank is currently in the process of obtaining the required approvals with regards to the Offering.
Commenting on the Offering, the Bank’s Managing Director and Chief Executive Officer, Mr. Hussein Abaza, said: “We are pleased to announce the price range for Banque du Caire’s proposed offering on the Egyptian Exchange, marking an important step towards the bank’s shares commencing trading on the exchange. . As one of Egypt’s largest banks, Banque du Caire has built a well-established and diversified franchise across retail, corporate, SME and microfinance banking, supported by a differentiated approach focused on delivering profitable margins, disciplined risk and portfolio management, and maintaining a solid balance sheet. We look forward to welcoming new investors to Banque du Caire and to engaging with the market as we embark on the next phase of the Bank’s development as a publicly listed institution.”
The Bank has engaged CI Capital Investment Banking S.A.E. (“CI Capital”) to act as Lead Global Coordinator and Joint Bookrunner, and EFG Hermes Promoting & Underwriting S.A.E. (“EFG Hermes”) to act as Joint Global Coordinator and Joint Bookrunner for the Offering. Baker McKenzie LLP has been appointed as legal counsel to the Bank and the Selling Shareholder as to U.S. and English law, while Helmy, Hamza & Partners (a member firm of Baker McKenzie International), has been appointed as Egyptian legal counsel in connection with the Offering.
