Banque du Caire to Offer 30% of Its Shares Valued at Up to EGP 24.25 Billion

The Financial Regulatory Authority (FRA) has approved the publication of the public offering prospectus to sell 30% of Banque du Caire's shares, equivalent to approximately 4.575 billion existing shares, according to Daily News Egypt.

The indicative price range for the offering is between EGP 4.82 and EGP 5.30 per share, meaning the value of the offered stake could reach up to EGP 24.25 billion at the upper end of the price band.

The subscription period opens on October 19 and runs through October 23, with the final price set to be determined by October 26, and trading expected to commence on the stock exchange in November.

The prospectus allocates 95% of the offering to institutional investors and 5% to retail investors, a move that allows small investors to participate in one of the Egyptian Exchange's most prominent offerings in the coming period.

What Do These Terms Mean?

Financial Regulatory Authority (FRA): The regulatory body overseeing the capital market in Egypt, approving offering prospectuses prior to selling shares to the public.

Indicative Price: An initial price range set by the issuer to guide investors before determining the final subscription price.

Existing Share: A share that already exists and is sold by its current owner, unlike a newly issued share sold by the company to increase its capital.

Institutional and Retail Tranches: The division of the offering between major institutional investors and individual retail subscribers, with each tranche allocated a distinct quota.