Banque du Caire has informed the EGX of its desire to list 562.5 mn shares at a par value of EGP 4 per share yesterday, giving it a market capitalization of EGP 2.25 bn. The company will list on the stock market next week and make an initial public offering of shares in 1H2017, market sources later told Reuters, describing it as Egypt’s biggest stock offering since 2010. Earlier reports indicated the bank was set to IPO in April or May of this year. EFG Hermes and HSBC are managing the issuance and Baker & McKenzie are legal advisors.

Tags: