Rana Mamdouh _ The Financial Regulatory Authority (FRA) has approved the public and private offering prospectus for Banque du Caire, in order to complete the necessary procedures for the sale of 4.575 billion shares, representing 30% of the total issued capital shares of the bank on the Egyptian Exchange (EGX), within a price range between EGP 4.82 and EGP 5.30 per share.
The Authority added that the decision was made in light of the fair value study of the bank's shares prepared by the financial advisor, Baker Tilly Financial Advisory for Securities, which concluded that the fair value per share is EGP 5.30.
In its statement sent to the Egyptian Exchange today, the Financial Regulatory Authority emphasized the commitment of the bank to take all procedures legally prescribed to publish the offering prospectus and make it available to investors in accordance with the rules, regulations, and procedures in force at the FRA and the Egyptian Exchange. It shall be made available electronically to investors at an appropriate time for review prior to the start of subscription or receiving purchase orders, as the case may be, in a downloadable and printable electronic format.
It noted that the final offering price will be determined in light of the results of the private offering and the book-building mechanism, and in accordance with what is contained in the offering prospectus and approved documents.
The Offering is Conducted Through Two Tranches: Private to Sell 95% of Total Shares Offered for Sale, and Public 5%
It indicated that the offering is conducted through two tranches as follows: The first tranche – Private Offering: to natural and legal persons among qualified investors for the private placement, including financial institutions, individuals, and entities with experience and financial solvency, to sell 4.346 billion shares, representing 95% of the total shares offered for sale, equivalent to 28.5% of the bank's total issued capital shares.
The second tranche – Public Offering: to the public to sell 228.750 million shares, representing 5% of the total shares offered for sale, equivalent to 1.5% of the bank's total issued capital shares.
The Number of Offered Shares May Be Increased by a Maximum of 15% of the Bank's Total Capital
According to the offering prospectus, the number of shares offered under the public and/or private offering tranche may be increased, in light of the coverage volume, up to a maximum of 2.2875 billion shares, representing 15% of the total capital shares of Banque du Caire, bringing the total offered shares of the bank to 6.8625 billion shares, representing 45% of the bank's total shares pursuant to the resolution of the Extraordinary General Assembly, provided that such increase is announced no later than three days prior to the closing date for receiving public offering orders.
The Authority confirmed that the bank is committed to fulfilling all requirements and conditions prescribed pursuant to Article (7) of the Listing and Delisting Rules of Securities on the Egyptian Exchange, and other relevant provisions, rules, and decisions, including those related to the percentages of offered shares, free-float percentage, number of shareholders, and any other requirements necessary to complete the final listing procedures, as applicable to the bank's status.
The FRA further obligated the bank to submit proof of the Cabinet's approval before the trading of the bank's shares commences on the Egyptian Exchange, in accordance with Article (11) of Law No. 170 of 2025 enacting the Law Regulating Certain Provisions Related to State Ownership in State-Owned Companies or Companies in which the State Participates, in light of Banque Misr's letter dated October 14, and the letter of the CEO of the State-Owned Companies Unit dated October 15, 2026.
