On Monday, Egypt completed the largest‑ever initial public offering on its exchange, selling 45 percent of Banque du Caire and raising approximately $650 million. The 6.86 billion‑share offering was priced at about 36.3 billion Egyptian pounds, valuing the bank at roughly 80.8 billion EGP. Prime Minister Mostafa Madbouly and senior officials attended the opening‑bell ceremony as the shares began trading.
The move is described by authorities as a key step of the government’s State Ownership Policy, which aims to broaden private‑sector participation and expand share ownership among both individual and institutional investors.
“Madbouly described the listing as a major milestone in Egypt’s economic reform program, reflecting the State Ownership Policy document that seeks to expand private sector participation in the economy and broaden share ownership among individual and institutional investors,” Xinhua reported.
Madbouly: “The listing is a major milestone in Egypt’s economic reform program.”
Omar Radwan, chairman of the Egyptian Exchange, said the offering marked a new chapter for the country’s capital market.
