Rana Mamdouh _ Dr. Hashem El-Sayed, Assistant to the Prime Minister and Head of the State-Owned Enterprises Unit, revealed that purchase orders for Banque du Cairo shares are scheduled to be received following the Financial Regulatory Authority (FRA) approval of the prospectus for the offering of 30% of the bank's total issued capital on the Egyptian Exchange (EGX), during the period from October 19 to 23 of this current month.
The Financial Regulatory Authority (FRA) approved, on Sunday, the prospectus for offering Banque du Cairo shares on the Egyptian Exchange (EGX), following approximately 9 years of the bank's temporary listing on February 8, 2017. This represents a significant step towards completing the offering and final listing procedures, within the framework of the state's efforts to implement the government IPO program and expand the ownership base of its state-owned companies.
Dr. Hashem El-Sayed stated that this comes within the framework of the work methodology adopted by the unit, which aims to accelerate the implementation of the government IPO program through institutional coordination with relevant entities, completing financial studies and valuations, reviewing companies' readiness for the offering, and overcoming technical, regulatory, and legal challenges to ensure the transition from the temporary listing stage to the actual offering in accordance with the rules governing the capital market.
He added that the approval of the prospectus is part of an integrated program for managing the file of state-owned enterprises, aiming to maximize the utilization of assets, expand private sector participation, and enhance the efficiency and governance of companies, in alignment with the state's orientations, the State Ownership Policy Document, and the provisions of Law No. 170 of 2025.
He continued: Regarding the details of the offering, the prospectus includes the offering of up to 4.575 billion shares, representing 30% of the capital of Banque du Cairo, through a secondary offering of existing shares, consisting of 95% for the private placement to qualified investors and 5% for the public offering to the general public, with an indicative price range ranging between 4.82 and 5.30 Egyptian Pounds per share.
He pointed out that the total value of the offered shares amounts to approximately 24.25 billion Egyptian Pounds based on the maximum indicative price, with the possibility of increasing the offering percentage to 45% in accordance with the approved regulations. The final offering price will be announced no later than October 26, 2026, in accordance with the book-building mechanism and the results of investor orders.
It is worth noting that the government IPO program has witnessed the temporary listing of approximately 28 state-owned companies on the Egyptian Exchange (EGX), as part of a direction aimed at completing the offering and final listing procedures for eligible companies, thereby enhancing the depth of the Egyptian capital market and providing new investment opportunities.
