In brief
Egypt finished the largest IPO on its capital market, selling 45% of Banque du Caire for about $650 million and valuing the bank at 80.8 billion Egyptian pounds. Prime Minister Mostafa Madbouly opened the trading bell, and officials highlighted the move as a key step in expanding private sector participation under Egypt’s State Ownership Policy.
On Monday, Egypt completed its biggest ever share sale by offering 6.86 billion shares of Banque du Caire, a bank that joined the Egyptian Exchange for the first time and sold 45 percent of its ownership for roughly $650 million. The shares were priced at about 80.8 billion Egyptian pounds in total, and the transaction completed the bank’s initial public offering.
Prime Minister Mostafa Madbouly opened the trading bell at the ceremony, joined by top banking and market officials, and said the listing was a major milestone in Egypt’s economic reform program.
the listing is a major milestone in Egypt’s economic reform program
Madbouly’s remarks echoed the government’s State Ownership Policy, which aims to broaden private‑sector participation and widen share ownership among individuals and institutions. Omar Radwan, chairman of the Egyptian Exchange, said the offering marked a new chapter for the country’s capital market.
The IPO underscores Egypt’s push to attract more private investment and increase the role of local banks in the financial sector, potentially boosting liquidity, governance and competition among Egyptian banks.
