Cairo – Mubasher: The Financial Regulatory Authority (FRA) announced its non-objection to the request submitted by Banque du Cairo regarding increasing the percentage of shares offered for sale within the private and public offering tranches from 30% to 45% of the total shares of the bank's capital.
Banque du Cairo stated in a complementary disclosure to the Egyptian Exchange (EGX) today that it, along with its main shareholder "Banque Misr", has concluded separate agreements with both the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).
The bank explained that the agreements include the agreement of both institutions to participate independently in the private offering tranche at a rate of up to 15.74% for each of them respectively.
It added 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 based on the order book.
The bank pointed out that these agreements do not include any voting agreements between the European Bank for Reconstruction and Development or the International Finance Corporation on the one hand, and the main shareholder of Banque du Cairo on the other hand.
