In brief
The Egyptian government finished the nation's largest IPO ever by selling 45 % of Banque du Caire, garnering roughly $650 million and valuing the bank at about 80.8 billion Egyptian pounds. Prime Minister Mostafa Madbouly opened the trading bell, citing the move as a key milestone in the State Ownership Policy to broaden private‑sector participation. The offering, comprising 6.86 billion shares, is expected to deepen Egypt’s capital market.
In a historic trading session on the Egyptian Exchange, the government completed the largest initial public offering in Egypt’s history by selling 45 percent of Banque du Caire, raising about $650 million, officials said Monday.
The offering comprised 6.86 billion shares, valuing the bank at approximately 80.8 billion Egyptian pounds, the statement noted.
Prime Minister Mostafa Madbouly attended the opening‑bell ceremony, declaring the listing a major milestone in Egypt’s economic reform program. He said the move reflected the State Ownership Policy’s aim to expand private‑sector participation and broaden share ownership among individual and institutional investors.
"It reflects the State Ownership Policy document which seeks to expand private sector participation and broaden share ownership," Madbouly said.
Omar Radwan, chairman of the Egyptian Exchange, said the offering marked a new chapter for the country’s capital market, underscoring the importance of the record‑setting IPO for fostering deeper market depth.
