Egypt has approved the sale of a 30 per cent stake in state-owned Banque du Caire, paving the way for a share offering valued at up to $454 million as the government advances plans to attract private investment and expand its capital market.
The country’s Financial Regulatory Authority approved the offering prospectus on Sunday, covering up to 4.575 billion existing shares held by state-owned Banque Misr. The stake could increase to 45 per cent, subject to investor demand and applicable regulations.
Hashem El-Sayed, assistant to the prime minister and head of the State-Owned Companies Unit, said the transaction involves the sale of existing shares rather than the issuance of new stock. Consequently, proceeds will go to Banque Misr, the selling shareholder, rather than directly to Banque du Caire.
The indicative price range is between 4.82 and 5.30 Egyptian pounds per share, valuing the proposed 30 per cent stake at up to EGP 24.25 billion, equivalent to approximately $454 million.
Under the approved structure, 95 per cent of the shares will be allocated to qualified investors through a private placement, while the remaining five per cent will be offered to retail investors through a public subscription.
Investors are scheduled to submit orders between October 19 and 23, with the final offer price expected by October 26 following the book-building process. Trading on the Egyptian Exchange is expected to begin in November, subject to the completion of the required offering and listing procedures.
CI Capital Investment Banking and EFG Hermes Promoting & Underwriting are serving as joint global coordinators and joint bookrunners for the transaction.
Banque du Caire reported a net profit after tax of EGP 8.94 billion in the first half of 2026, providing investors with an indication of its recent financial performance ahead of the planned listing.
Part of Egypt’s privatisation programme
The share sale forms part of Egypt’s broader programme to reduce direct government ownership in selected companies, attract private capital and increase participation in the stock market.
The approval comes nearly nine years after Banque du Caire’s shares were temporarily listed on the Egyptian Exchange on February 8, 2017. The latest development moves the bank closer to completing its offering and final listing procedures.
El-Sayed said the government was working with relevant authorities to complete valuations, financial assessments and listing preparations while resolving technical, legal and regulatory issues affecting planned share sales.
The wider programme aims to unlock value from state-owned assets, improve corporate governance and encourage more private-sector involvement. About 28 state-owned companies have been temporarily listed on the exchange as the government works towards completing their offerings.
Investor demand to determine final sale
The option to increase the stake on offer from 30 per cent to 45 per cent gives the transaction flexibility to accommodate stronger investor demand.
The final price, the proportion ultimately sold and participation by institutional and retail investors will determine the outcome of the offering.
For the Egyptian government, the transaction represents another step towards attracting private investment into state-owned businesses. Investors, meanwhile, will assess the bank’s financial performance, growth prospects and valuation before deciding whether to participate.
