Banque du Caire to Raise Up to 4 Million in Egyptian IPO

Banque du Caire to Raise Up to $454 Million in Egyptian IPO

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Banque du Caire is preparing to raise up to 24.25 billion Egyptian pounds, equivalent to $454 million, through a 30% stake offering on the Egyptian Exchange. Egypt’s Financial Regulatory Authority approved the prospectus on October 18, 2026, setting subscription dates from October 19 to October 23.

Banque Misr Share Sale and Regulatory Approval

Egypt’s Financial Regulatory Authority approved the prospectus for the state-owned lender on October 18, 2026, clearing the way for the sale of a 30% stake valued at up to about 24.25 billion Egyptian pounds. Hashem El-Sayed, Assistant to the Prime Minister and Head of the State-Owned Companies Unit, confirmed that the offering covers up to 4.575 billion shares through a secondary offering of existing shares.

Al Arabiya Correspondent: Egypt Prepares for Banque du Caire IPO via Fair Value Assessment Method…

Those shares currently belong to state-owned Banque Misr. The transaction moves forward the country’s broader privatization program, which aims to broaden the ownership base of state enterprises and deepen the local capital market.

During the first half of 2026, the financial institution achieved a net profit after tax totaling EGP 8.94bn. This prospectus clearance forms an integral element of a comprehensive framework dedicated to managing state enterprises, aiming to optimize asset value, broaden private sector involvement, and enhance both managerial efficiency and corporate governance.

Price Range and Subscription Timeline for Share Sale

The regulatory approval establishes an indicative price range between 4.82 and 5.30 Egyptian pounds per share, which places the total value at approximately 24.25 billion Egyptian pounds at the upper limit. According to an anonymous official who spoke with Asharq Business, the share sale might generate as much as EGP 33 billion with an estimated price bracket of EGP 4.3 to EGP 4.82 per share, while a different insider pointed out that this interval sits beneath the projected fair value of EGP 5.3 per share, a figure that would price Egypt’s third-largest state lender near EGP 80.8 billion. The arrangement sets aside a private placement targeted at institutional buyers within Egypt and foreign jurisdictions, alongside a retail offering designed for individual investors domestically.

Purchase orders will be accepted between 19 and 23 October 2026. Hashem El-Sayed, assistant to the prime minister and CEO of the State-Owned Enterprises Unit, projected in a previous interview with Asharq Business that the offering would be completed in November and fully subscribed within one week.

Egypt's financial regulator approves Banque Du Caire IPO prospectus for 30% stake worth up to EGP 24.25bn
Photo: Daily News Egypt

Past Valuation Hurdles and Expanded Stake Options

The current push follows years of stalled plans. While its shares were registered on the EGX in 2017, the share placement experienced delays due to market instability and disagreements over valuation, extending a privatization initiative that has faced ongoing postponements—including during the pandemic era—since it was initially introduced around 2016.

State officials have built flexibility into the current offering. While the initial baseline is set at 30%, the bank is considering raising the proportion to 45% based on demand during the subscription window, as Egypt has increased the stake it plans to offer on the Egyptian Exchange from 30% previously. Should the transaction succeed, it will represent the nation’s premier major state-backed initial public offering since the state divested a 30% interest in United Bank late in 2024, debuting as the month’s second primary flotation alongside the financial technology unicorn MNT-Halan.

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