Rana Mamdouh _ CI Capital Investment Banking, acting as the Sole Global Coordinator and Lead Manager of the offering, spearheaded the attraction of investments from both the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) in the private placement of Banque du Cairo, with total investments amounting to USD 200 million.
CI Capital stated that this contributed to increasing the offering size from 30% to 45% of the bank's capital, driven by strong demand from prominent international financial institutions, reflecting their confidence in Banque du Cairo and its growth prospects.
It noted that Banque du Cairo, alongside the principal shareholder, Banque Misr, entered into separate agreements with both the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), pursuant to which each agreed to independently participate in the private placement tranche with a stake of up to 15.74% each.
It pointed out that the number of shares will be allocated to each of them in exchange for these amounts out of the shares offered in the private placement tranche, in accordance with the final price and pursuant to the book-building mechanism and order book of the private placement, in accordance with the aforementioned agreements.
It further noted that Banque du Cairo has obtained the necessary approvals to increase the percentage of the public and private offering, allowing for an increase in the total offered shares to approximately 45% of the bank's capital, supported by the international investments attracted by CI Capital as part of the offering process.
According to CI Capital's statement, the anticipated offering comes within the framework of the Egyptian capital market's trends to broaden the base of listed companies and expand investor participation opportunities in institutions operating in the banking sector. It also represents a new milestone in the journey of Banque du Cairo, one of the Egyptian banks with a history spanning over seven decades.
