Cairo, Oct 27 (Reuters) – Egypt’s Financial Regulatory Authority approved the prospectus for a 30% stake sale in state-owned Banque du Caire, valued at up to EGP 24.25 billion.
The offering will comprise up to 4.575 billion shares priced between EGP 4.82 and EGP 5.30. About 95% of the shares will be allocated to a private placement for qualified investors, with the remaining 5% offered to retail investors.
Purchase orders are scheduled for Oct 19‑23, and the final price will be set by Oct 26 based on bookbuilding results, Assistant to the Prime Minister Hashem El‑Sayed said. The bank’s shares are currently held by state-owned Banque Misr.
The approval follows a nine‑year gap since the bank’s temporary listing in 2017 and aligns with Egypt’s broader government offerings programme aimed at widening private sector participation.
#Egypt #Banking @Reuters @BBC