Banque du Caire Receives Buy Orders for 97 Million Shares on First Day of IPO

Banque du Caire's public offering received buy orders for approximately 97 million shares on the first day of subscription, covering about 42% of the shares allocated to retail investors, according to data displayed on the Egyptian Exchange trading screens and reported by Business Today Egypt.

The public offering includes 228.75 million shares, representing 5% of the total shares offered for sale. Subscription began on Monday, October 19, alongside the private tranche aimed at qualified investors, which runs until October 23, while the retail subscription continues until October 28.

The bank plans to offer 4.575 billion existing shares, representing 30% of its issued capital, across two tranches. The private tranche comprises 4.34625 billion shares, or 95% of the total offering and equivalent to 28.5% of the bank's capital, while the public tranche represents 5% of the offered shares, equivalent to 1.5% of the capital.

The indicative price range was set between 4.82 and 5.30 EGP per share. At the upper limit, the offering could raise around 24.25 billion EGP, reflecting a market capitalization of approximately 80.83 billion EGP. The final price will be announced on October 26, with trading expected to begin in November subject to regulatory approvals.

What Do These Terms Mean?

Initial Public Offering (IPO): A process in which a company sells its shares to the public for the first time and lists them on a stock exchange to raise capital or enable its shareholders to sell.

Private Tranche: A portion of the offering directed at qualified and institutional investors, usually requiring a higher minimum subscription threshold than the retail tranche.

Market Capitalization: The market value of a company, calculated by multiplying the share price by the number of issued shares.