Banque du Caire, one of Egypt's largest state-owned banks, is preparing to float 30 per cent of its shares on the Egyptian Exchange, after its parent, Banque Misr, confirmed plans for a public listing that had been delayed for close to two decades, according to Daily News Egypt and Egyptian Streets.
Banque Misr, which owns Banque du Caire outright, will sell roughly 4.575 billion existing ordinary shares rather than have the bank issue new stock, both outlets reported on 11 October. The offering is structured in two parts: a public tranche for retail investors inside Egypt, and a private placement aimed at qualified institutional investors abroad, including under the United States' Rule 144A and Regulation S exemptions, according to Daily News Egypt and Arab Finance.
Subscription is expected to run from late October into early November, with trading due to begin on the exchange in November, subject to approval from Egypt's Financial Regulatory Authority, the three outlets reported.
The Egyptian Exchange's benchmark EGX30 index closed at 53,553.41 points on 5 October, down 0.66 per cent on the day, while the pound traded at about 52.34 to the US dollar, according to a market report from Rio Times. That report also noted the central bank's Monetary Policy Committee is next due to meet on 29 October.
A listing nearly two decades in the making
The sale brings to an end a listing process that had been repeatedly postponed for close to 19 years amid disagreements over the bank's valuation and government reluctance to divest, Egyptian Streets reported. The outlet said authorities had tried to sell a strategic stake to a single investor as recently as June 2025, before that attempt collapsed and the government switched to a public offering instead. EnterpriseAM described the listing as part of a broader state divestment initiative.
Sources differ on how much the 30 per cent stake is worth. Egyptian Streets put Banque du Caire's fair value at around EGP 75 billion (about $1.43 billion); the business newsletter EnterpriseAM cited a fair-value estimate of EGP 80 to 80.5 billion, which would put the 30 per cent tranche at roughly $460 million. Neither figure has been confirmed by the bank itself, and the final subscription price will not be known until the offering document is published.
We are pleased to announce our intention to float Banque du Caire on the Egyptian Exchange, marking an important milestone in the Bank's long-standing history. — Hussein Abaza, Managing Director and CEO, Banque du Caire (to Daily News Egypt)
The listing is being managed by CI Capital as lead global coordinator and joint bookrunner, with EFG Hermes acting as joint global coordinator, joint bookrunner and underwriter, according to Arab Finance. Baker McKenzie is advising on US and English law, while Helmy, Hamza & Partners is acting as Egyptian legal counsel.
Egypt's second big listing this month
Banque du Caire's offering follows the EGX debut of fintech lender MNT-Halan earlier in October, which EnterpriseAM described as the exchange's largest listing in dollar terms since e-payments firm eFinance listed in 2021. Taken together, the two deals mark a push by the government to revive activity on the Egyptian Exchange through its long-running state asset divestment programme, EnterpriseAM reported.
What it means for the bank and its customers
Banque du Caire describes itself as one of Egypt's largest lenders, operating 242 branches and 2,205 ATMs across all 27 governorates and serving about 3.2 million customers, according to figures the bank gave to Daily News Egypt. The same figures show the bank reported a net profit after tax of EGP 8.94 billion in the first half of 2026, total assets of EGP 561.22 billion, and a return on average equity of 27.6 per cent.
For retail investors, the offering gives Egyptians a chance to buy shares directly in one of the country's major state-owned banks, continuing a run of EGX listings this year aimed at deepening the exchange and widening its investor base, as reported by EnterpriseAM and Egyptian Streets. Whether the shares price closer to the EGP 75 billion or EGP 80-80.5 billion valuation estimates will not be clear until the subscription period opens and institutional demand is tested.
For Banque Misr, the parent, the float follows the failed 2025 attempt to find a single strategic buyer for the bank, Egyptian Streets noted.
Frequently asked questions
What stake in Banque du Caire is being sold?
Banque Misr, which owns Banque du Caire, is selling about 4.575 billion existing shares, equal to 30 per cent of the bank's issued share capital, according to Daily News Egypt and Arab Finance.
When will Banque du Caire shares start trading?
Subscription is expected in late October or early November 2026, with trading on the Egyptian Exchange due to begin in November, subject to approval from the Financial Regulatory Authority, according to Daily News Egypt and Egyptian Streets.
Who can buy shares in the offering?
The offering is split between a public tranche open to retail investors in Egypt and a private placement for qualified institutional investors internationally, including under the US Rule 144A and Regulation S exemptions, according to Daily News Egypt and Arab Finance.
Why has the listing taken so long?
Egyptian Streets reported that the listing had been delayed for close to 19 years over valuation disputes and government reluctance to divest, with a planned sale to a strategic investor collapsing in June 2025 before officials opted for a public offering instead.
