Banque du Caire Sets LE 4.82-5.30 Range for EGX Listing

Banque du Caire has set an indicative price range of LE 4.82 to LE 5.30 per share for its planned listing on the Egyptian Exchange, with Banque Misr preparing to sell a 30% stake in the bank.

The offering covers 4.575 billion existing ordinary shares and is structured as a secondary sale, meaning no new shares will be issued. At the proposed range, the transaction would be worth between LE 22.05 billion and LE 24.25 billion ($412 million to $453.1 million).

The offer is divided into a private tranche of approximately 4.35 billion shares for qualified investors in Egypt and selected international markets, and a public tranche of 228.75 million shares for investors in Egypt.

Book-building for the private tranche is scheduled to run from October 19th to October 23rd, while the public subscription period is expected to remain open until October 28th. The final offer price is due to be announced on or before October 26th, with trading expected to begin in early November.

The proposed range implies an estimated market capitalisation of between LE 73.51 billion and LE 80.83 billion ($1.37 billion to $1.51 billion). Banque du Caire said the timetable remains indicative and subject to the regulatory approvals required to complete the offering.