Business · Companies · 11 hrs ago
Egypt lists 45% of Banque du Caire in its biggest-ever IPO
Egypt listed 45% of Banque du Caire, its sixth-largest bank by assets, in the biggest IPO in the history of the country’s stock exchange.
The sale raised more than 36.3 billion Egyptian pounds, equivalent to about $650 million.
Banque Misr, Egypt’s second-largest bank, sold existing shares, so the transaction did not bring new capital into Banque du Caire.
The European Bank for Reconstruction and Development bought a 6.9% stake for $100 million to support the bank’s digitalisation and governance.
The sale is part of Egypt’s plan to privatise state assets and reduce public debt, in line with agreements with the International Monetary Fund.
Egypt plans to offer a 20% stake in Misr Life Insurance in December, according to the announcement.
Egypt listed 45% of Banque du Caire in what ANSA described as the biggest initial public offering in the country’s stock-market history.
The sale raised more than 36.3 billion Egyptian pounds, about $650 million, according to the article.
The European Bank for Reconstruction and Development acquired a 6.9% stake for $100 million.
The offering is part of a privatisation and asset-sale plan linked to agreements with the International Monetary Fund and the need to reduce public debt.
Banque Misr sold existing shares rather than Banque du Caire issuing new shares to raise capital.
- Who
- Banque du Caire, with existing shares sold by Banque Misr.
- What
- Egypt listed 45% of the bank in its biggest-ever IPO.
- When
- The listing took place on November 2, 2026.
- Where
- Egypt.
- Why
- The sale is part of a privatisation and asset-sale plan linked to agreements with the IMF and the need to reduce public debt.
This story does not have two clearly opposing sides.
Banque du Caire was founded.
The bank’s 45% stake was listed on the Egyptian stock exchange.
An offering of a 20% stake in Misr Life Insurance is expected to follow.
- Stake listed
- 45%
- Proceeds
- More than 36.3 billion Egyptian pounds, about $650 million
- EBRD investment
- $100 million for a 6.9% stake
- Retail tranche
- Subscribed more than 27 times
- Next planned offering
- 20% of Misr Life Insurance in December
What people are saying
a turning point in the path of economic reform and the culmination of the state’s vision to increase private-sector participation and broaden the shareholder base among citizens and investment institutions