By TheDailyNewsHub Reporter
Egypt has raised approximately $658 million from the initial public offering (IPO) of Banque du Caire, as the government advances its programme to sell stakes in state-owned companies and attract greater private-sector investment.
The offering, completed on Monday, November 2, 2026, involved the sale of 6.86 billion shares, representing 45 per cent of the bank’s issued share capital, at 5.30 Egyptian pounds per share. The transaction generated proceeds of approximately 36.37 billion Egyptian pounds and valued the bank at about 80.83 billion pounds ($1.46 billion).
The shares were sold by Banque Misr, Banque du Caire’s majority shareholder, which will retain a controlling 55 per cent stake following the transaction. As the IPO involved existing shares rather than newly issued stock, the proceeds will go to Banque Misr and not directly into Banque du Caire.
The offering attracted significant investor interest. The public subscription tranche was reportedly oversubscribed more than 27 times, while the Egyptian Exchange said the transaction attracted more than $500 million in funds transferred from abroad.
The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) were among the major institutional investors. The EBRD confirmed an investment of $100 million for a 6.9 per cent stake, while the IFC also invested $100 million, bringing the combined investment by the two development institutions to $200 million.
Founded in 1952, Banque du Caire is one of Egypt’s major state-owned commercial banks. Its listing marks a significant development in the country’s capital market and represents one of the most substantial steps in its state-asset divestment programme in recent years.
The transaction forms part of Egypt’s wider economic reform agenda, including commitments under its $8 billion programme with the International Monetary Fund (IMF). The reforms seek to expand private-sector participation and reduce the state’s direct involvement in economic activities.
Prime Minister Mostafa Madbouly said the successful listing demonstrated the government’s commitment to continuing its programme of state-asset offerings despite regional and international economic challenges.
Egypt has previously announced plans to offer stakes in more than 30 state-owned companies as part of efforts to attract investment, improve asset management and broaden private ownership.
The long-term impact of the Banque du Caire IPO will depend on the bank’s performance as a listed company and the government’s ability to sustain its wider privatisation programme.