Cairo – Mubarak: The offering of Banque Du Caire shares is expected to be executed on October 29, with trading of the stock on the Egyptian Exchange (EGX) scheduled to begin on November 2 under the ticker symbol "BQDC", subject to obtaining regulatory approvals, according to the offering advisor, as reported by Asharq Bloomberg.
The Bank set the final offering price at EGP 5.30 per share, which is the upper limit of the indicative price range that spanned between EGP 4.82 and EGP 5.30.
The value of the private placement reached approximately EGP 34.55 billion, equivalent to USD 625 million, making it the largest private placement tranche in the history of the Egyptian Exchange, representing 42.75% of the Bank's capital.
Investor demand reached approximately EGP 205.8 billion, equivalent to USD 3.72 billion, bringing the offering's oversubscription rate to approximately 6 times.
