The Central Bank of Egypt reported that Governor Hassan Abdalla attended the opening of trading in Banque du Caire shares on the Egyptian Exchange’s main market following Egypt’s largest share offering. The EGP 36.37 billion transaction covered 45% of the bank’s shares, implying a market value of EGP 80.825 billion. The listing supports the State Ownership Policy Document’s objectives of expanding private sector participation and broadening ownership among individuals and institutional investors. The public tranche was subscribed more than 27 times, with purchase orders exceeding 9.28 billion shares. The offering attracted more than USD 500 million transferred from abroad, with international institutional demand including the European Bank for Reconstruction and Development and the International Finance Corporation (IFC). This follows October discussions between the central bank and the IFC about the corporation’s prospective role in Egypt’s public offerings program, including mobilizing international capital and attracting foreign investment.
Central Bank of Egypt governor marks Banque du Caire trading debut after record EGP 36.37 billion offering
Central Bank of Egypt Governor Hassan Abdalla attended Banque du Caire’s trading debut following Egypt’s largest share offering. The EGP 36.37 billion transaction covered 45% of the bank’s shares. The public tranche was subscribed more than 27 times, while the offering attracted over USD 500 million from abroad.