Banque du Caire Prepares 30% Stake Sale on the Egyptian Exchange

CAIRO — Egyptian state-owned lender Banque Misr has announced plans to execute an initial public offering (IPO) of a 30% equity stake in Banque du Caire on the Egyptian Exchange (EGX).

The transaction will involve the sale of 4.575 billion existing ordinary shares. The subscription phase is projected to close by late October 2026, with public trading scheduled to commence in November, pending final approval from the Financial Regulatory Authority (FRA).

Transaction Structure and Investment Advisors

The offering will be structured into a dual-tranche placement targeting institutional and retail market segments:

• Private Placement: A targeted tranche for institutional investors within Egypt, alongside international institutional allocations.
• Public Retail Tranche: A public offering tranche made available to retail investors in Egypt.
• Joint Bookrunners: EFG Hermes and CI Capital Investment Banking have been appointed as joint global coordinators and bookrunners for the listing.
• Legal Counsel: Baker McKenzie is serving as international legal counsel, with Helmy, Hamza & Partners advising on Egyptian law.

Earnings Profile and Capitalization

The listing comes as Egypt continues executing its broad state asset monetization program, supported by the International Monetary Fund (IMF) facility.

Banque du Caire reported solid operational metrics for the first half of 2026:

• Profitability: Annualized return on average equity (ROAE) reached 27.6% in H1 2026, with a net interest margin (NIM) of 7.4%.
• Asset Base: Treasury and capital markets assets reached EGP 212.2 billion ($4.38 billion), with financial institutions division assets at EGP 69 billion ($1.42 billion).
• Strategic Reorientation: Under Chief Executive Officer Hussein Abaza, the bank aims to increase non-interest income, which represented 17.8% of net banking income in 2025, by expanding fee-based financial products and mid-market commercial lending.

Subject to regulatory non-objection and formal registration on the EGX, the floating of Banque du Caire will serve as a key benchmark for institutional liquidity within North Africa's banking sector.

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