In Cairo, Egypt’s state‑owned Banque du Caire concluded the country’s largest ever initial public offering, selling 45 % of the bank for about 36.3 billion Egyptian pounds—roughly $650 million—marking a milestone in Egypt’s economic reform agenda.
The offering comprised more than 6.86 billion shares, valuing Banque du Caire at approximately 80.8 billion Egyptian pounds. Prime Minister Mostafa Madbouly led the opening‑bell ceremony, emphasizing the listing as a key step in the government’s State Ownership Policy to expand private sector participation and broaden share ownership among individual and institutional investors.
Omar Radwan, chairman of the Egyptian Exchange, noted that the IPO “marked a new chapter for the country’s capital market.” He added that the transaction would help attract more investors to Egyptian equities and strengthen the market’s depth.
State-ownership reforms have aimed to gradually diversify equity holdings in strategic industries. By opening Banque du Caire to private investors, the move seeks to route public funds into productive use while encouraging domestic and foreign participation in the banking sector.
Analysts say the IPO could spur further market activity, drawing interest from a broader set of investors. The $650 million inflow is expected to improve the bank’s capital base and increase its capacity to serve the growing financial needs of businesses and households across the country.
