Big news for Egypt’s banking scene: Banque du Caire is officially heading to the stock market. The bank plans to list 30% of its shares on the Egyptian Exchange, marking a huge step in its development.
- The Plan: The bank will sell 4.575 billion existing shares currently held by Banque Misr.
- Who Can Buy: The offering includes a private placement for institutional investors globally and a public offering for retail investors in Egypt.
- Timing: Pending final regulatory approvals, the subscription period is set for late October, with trading starting in November.
This move follows a successful transformation program that began back in 2018.