Arab Finance: The initial public offering (IPO) of Banque du Caire has attracted subscription orders for approximately 453.6 million shares in the public tranche, representing a coverage ratio of 1.98 times the 228.75 million shares allocated to retail investors.

The public tranche accounts for 5% of the total shares offered for sale and 1.5% of the bank’s issued capital. The subscription period remains open until October 28.

Meanwhile, the private placement targets financial institutions, experienced investors, and high-net-worth individuals, involving approximately 4.346 billion shares, equivalent to 95% of the total offering.

The IPO involves 4.575 billion shares, representing 30% of Banque du Caire’s issued capital. The indicative price range has been set between EGP 4.82 and EGP 5.30 per share.

The final offer price is expected to be announced on or before October 26, while trading in the bank’s shares is expected to commence in early November.

The prospectus allows for an increase in the number of shares offered, which could raise the total offering to 45% of the bank’s capital, subject to the terms and conditions governing the process.

Banque du Caire appointed CI Capital Investment Banking as lead global coordinator and joint bookrunner for the offering, while EFG Hermes Promoting and Underwriting will serve as joint global coordinator and joint bookrunner.