Bank of Cairo plans EGX listing

Cairo Bank, one of Egypt's largest banks with a history spanning over 70 years, has announced its intention to issue shares on the Egyptian Exchange through an initial public offering (IPO). The offering includes the sale of 4.575 billion shares by the selling shareholder, Banque Misr, representing 30% of the bank’s capital. The offering will be divided into two tranches: a private placement for qualified investors outside Egypt and a public offering for individual investors within Egypt. The bank is currently completing the necessary regulatory approvals, with the offering expected to be finalized in late October and trading to commence in November, involving international investment firms and legal institutions. The bank aims to strengthen its market presence and expand its investor base, focusing on diversifying services and maintaining a strong financial position.

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