Arab Finance: Egypt’s Cabinet has approved offering a 30%-45% stake in Banque du Caire (BQDC) on the Egyptian Exchange (EGX), according to a disclosure.
The approval was granted during the Cabinet’s 116th session on October 22. The Financial Regulatory Authority (FRA) was tasked with taking the necessary measures in coordination with the relevant authority at Banque Misr, Banque du Caire’s parent bank.
The decision follows a communication dated October 15, concerning the proposed sale of a stake in Banque du Caire, an Egyptian joint-stock company.
The approval rests on resolutions adopted by Banque du Caire’s extraordinary general meetings on February 17, April 5, and October 12, and by Banque Misr’s board of directors on September 14 and October 12.
It also draws on Central Bank of Egypt (CBE) board resolutions No. 110/2026 and No. 309/2026, issued on January 27 and March 31, 2026, respectively.
The FRA had approved Banque du Caire’s registration in its official registry under the authority’s board resolution No. 121 of 2017, as part of preparations for the original offering of 30% of the bank’s issued share capital. It also approved the prospectus covering the public offering and private placement, with listing and trading requirements still being completed.
The original prospectus provided for the sale of approximately 4.575 billion shares at an indicative price range of EGP 4.82 to 5.30 per share. The range was based on a fair value study prepared by the offering’s financial advisor, with a target price of EGP 5.30 per share.
Under that structure, the sale was divided into two tranches. The private placement comprised approximately 4.346 billion shares, representing 95% of the offering and 28.5% of the bank’s issued share capital. It was reserved for financial institutions, individuals and entities meeting the relevant experience and financial capacity requirements.
The public tranche comprised 228.75 million shares, equivalent to 5% of the offering and 1.5% of the bank’s issued share capital, and was intended for the general public.
The original offering terms also allowed the sale to be increased by approximately 2.287 billion additional shares, taking the total stake offered to as much as 45%, subject to the applicable conditions and procedures.
