In brief
Egypt completed a record $650 million IPO of Banque du Caire, selling 45 % of the bank for over 6.86 billion shares and valuing it at 80.8 billion Egyptian pounds. The offering, the largest on the Egyptian Exchange, was highlighted as a key step in the government’s State Ownership Policy to increase private sector participation. Prime Minister Mostafa Madbouly opened trading and underscored the launch as a milestone in Egypt’s economic reform program.
Egypt has completed a record $650 million initial public offering of Banque du Caire, selling 45 % of the bank’s shares on the Egyptian Exchange on Monday.
The offering comprised more than 6.86 billion shares, valuing the bank at roughly 80.8 billion Egyptian pounds, according to a government statement. Approximately $650.7 million were raised in the sale, making it the largest-ever IPO on the Egyptian Exchange.
Prime Minister Mostafa Madbouly attended the opening‑bell ceremony to open trading in the bank’s shares, alongside senior banking and capital market officials. He described the listing as a major milestone in Egypt’s economic reform program and said it reflected the State Ownership Policy document, which seeks to broaden private‑sector participation and expand share ownership among individual and institutional investors.
Omar Radwan, chairman of the Egyptian Exchange, said the offering marked a new chapter for the country’s capital market, signalling growing investor confidence in Egypt’s banking sector.
