Rana Mamdouh _ The Financial Regulatory Authority (FRA) approved increasing the percentage of shares offered for sale within the private and / or public offering tranches of Banque القاهرة's shares from 30% to 40%.
The FRA stated in its statement sent to the Egyptian Exchange (EGX) today that its decision came based on the bank's request regarding increasing the percentage of shares offered for sale within the private and public offering tranches, emphasizing compliance with the rules and procedures legally established in this regard.
It also pointed out its non-objection to publishing a supplementary announcement regarding the signing by Banque القاهرة and its main shareholder, Banque Misr, of agreements with each of the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).
EBRD and IFC agree to participate with a 15.74% stake each in the private offering of Banque القاهرة
Banque القاهرة announced that it, along with the main shareholder Banque Misr, has concluded separate agreements with each of the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), pursuant to which each of them agreed to independently participate in the private offering tranche with a percentage of up to 15.74% and 15.74% respectively.
The bank stated that the number of shares to be allocated to each of them in the private offering tranche will be determined according to the final price resulting from the offering, and in accordance with the book-building mechanism for the private offering, pursuant to the aforementioned agreements.
It noted that the agreements do not include voting coordination between the European Bank for Reconstruction and Development and / or the International Finance Corporation on the one hand, and the main shareholder in Banque القاهرة on the other hand.
It is worth mentioning that Banque القاهرة and Banque Misr have concluded 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 offering, in accordance with the terms and conditions of the agreement concluded with it, and at the final price resulting from the offering, subject to the fulfillment of preconditions 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 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%.
