Rana Mamdouh _ Banque du Caire announced that it, alongside its principal shareholder Banque Misr, has entered into separate agreements with both the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), pursuant to which each has agreed to independently participate in the private placement tranche with a stake of up to 15.74% and 15.74% respectively.
Banque du Caire stated, in a supplementary disclosure sent to the Egyptian Exchange (EGX) today, that the number of shares to be allocated to each of them in the private placement tranche will be determined in accordance with the final price resulting from the offering, and pursuant to the book-building mechanism for the private placement, in accordance with the aforementioned agreements.
It noted that the agreements do not include voting agreements between the European Bank for Reconstruction and Development and/or the International Finance Corporation on the one hand, and the principal shareholder of Banque du Caire on the other hand.
It is worth noting that Banque du Caire and Banque Misr have entered into investment agreements with a number of qualified investors, pursuant to which each investor independently undertakes to purchase a number of shares within the first tranche of the private placement, in accordance with the terms and conditions of the agreement concluded with them, and at the final price resulting from the offering, subject to the fulfillment of conditions precedent and conditional upon the price stipulated in the relevant agreement, which may vary from one investor to another.
The names of the qualified investors and the agreed-upon investment percentages are as follows: Sustainable Capital with 18%, RWC Asset Management and RWC Asset Advisors with 11%, Waha Investments with 9%, and Helikon Investments with 25%.
