Head of the Cabinet's State-Owned Companies Unit: 30% of the bank's shares will be offered at an indicative total value of up to about EGP 24.25 billion

The Financial Regulatory Authority (FRA) on Sunday, October 18, 2026, approved the prospectus for the offering of Banque du Caire shares on the Egyptian Exchange, about 9 years after the bank's shares were temporarily listed on February 8, 2017. The approval marks an important step toward completing the offering and final listing procedures, as part of the state's efforts to implement the government IPO program and broaden ownership of state-owned companies.

Dr. Hashem El-Sayed, Assistant to the Prime Minister and head of the State-Owned Companies Unit, said the move is part of the unit's working methodology, which aims to accelerate the government IPO program through institutional coordination with the relevant authorities, completing financial studies and valuations, reviewing companies' readiness for listing, and resolving technical, regulatory and legal challenges. This ensures the transition from temporary listing to an actual offering in line with the rules governing the capital market.

He added that the prospectus approval comes within an integrated program for managing state-owned companies that aims to maximize the value of assets, expand private-sector participation, and strengthen corporate efficiency and governance, in line with state policy, the State Ownership Policy Document and the provisions of Law No. 170 of 2025.

On the details of the offering, he said the prospectus covers up to 4.575 billion shares, representing 30% of Banque du Caire's capital, through a secondary offering of existing shares: 95% in a private placement for qualified investors and 5% in a public offering. The indicative price range is EGP 4.82 to EGP 5.30 per share, putting the total value of the offered shares at about EGP 24.25 billion at the top of the range, with the possibility of raising the offering to 45% in accordance with approved rules.

The head of the State-Owned Companies Unit explained that purchase orders will be received from October 19 to 23, 2026, with the final offering price to be announced no later than October 26, 2026, based on the book-building process and the results of investor demand.

The government IPO program has seen about 28 state-owned companies temporarily listed on the Egyptian Exchange, as part of a drive to complete the offering and final listing of eligible companies, deepening Egypt's capital market and creating new investment opportunities.