Banque du Caire S.A.E. ("Banque du Caire" or "the Bank"), one of Egypt's largest banks with a history spanning more than 70 years, has announced its intention to proceed with a public offering of its ordinary shares (the "IPO" or the "Offering") on the Egyptian Exchange.

The Offering is expected to take place through the sale by Banque Misr S.A.E. (the "Selling Shareholder") of 4,575,000,000 existing shares it owns, representing 30% of the Bank's issued share capital.

The Offering comprises:

(a) a private placement to qualified investors in Egypt and to qualified investors in a number of other countries, including qualified institutional buyers in the United States under Rule 144A of the US Securities Act of 1933, as amended (the "US Securities Act"), and investors outside the United States under Regulation S of the US Securities Act (the "Private Placement"); and (b) a public offering to retail investors in Egypt (the "Public Offering").

The Bank is currently working to obtain the necessary approvals for the Offering, including the Financial Regulatory Authority's (the "FRA") approval of the public offering prospectus (the "Prospectus") and the registration of the Bank's shares, as well as Egyptian Exchange approvals. Subject to the relevant regulatory approvals, subscription to the Offering is expected to be completed in late October and trading of the shares on the Egyptian Exchange to begin in November.

The Bank has appointed CI Capital Investment Banking S.A.E. ("CI Capital") as Lead Manager and Global Coordinator, and EFG Hermes Promoting & Underwriting S.A.E. ("EFG Hermes") as Manager and Global Coordinator. Baker McKenzie has been appointed as legal counsel to the Bank and the Selling Shareholder on US and English law, and Helmy, Hamza & Partners, a member of Baker McKenzie International, as legal counsel on Egyptian law for the purposes of the Offering.

Commenting on the Offering, Hussein Abaza, Managing Director and CEO of the Bank, said: "We are pleased to announce our intention to list Banque du Caire's shares on the Egyptian Exchange, a milestone in the Bank's long history. As one of Egypt's largest banks, Banque du Caire has built a solid, diversified business spanning retail, corporate, SME and microfinance banking, underpinned by a distinctive approach focused on attractive margins, disciplined risk and portfolio management, and a strong financial position. We look forward to welcoming new investors to Banque du Caire and to engaging with investors as we begin the next stage of the Bank's development as a listed institution."

Key details of the Offering

Offering size: after receiving final approvals from the Financial Regulatory Authority and the Egyptian Exchange, the Selling Shareholder will offer 4,575,000,000 existing ordinary shares, representing 30% of the Bank's issued share capital.

Investor tranches: the Offering consists of (a) a private placement and (b) a public offering.

Selling Shareholder: Banque Misr S.A.E.

The Offering is expected to be completed in late October and trading on the Egyptian Exchange to begin in November, subject to the relevant regulatory approvals.

Offering advisers

Lead Manager and Global Coordinator: CI Capital Investment Banking S.A.E.

Manager and Global Coordinator: EFG Hermes Promoting & Underwriting S.A.E.

Legal counsel to the Bank and the Selling Shareholder: Baker McKenzie on US and English law, and Helmy, Hamza & Partners, a member of Baker McKenzie International, on Egyptian law.