FinMin to IPO 20% stake in AlexBank

Good afternoon, friends, and welcome to an early almost-weekend. There’s plenty to unpack today, with AlexBank headed to the stock exchange after talks with Intesa Sanpaolo hit a wall. We’ve also got a major EU-India trade pact in the works, and we ask whether a social media ban for under-16s could actually work in Egypt.

THE BIG STORY TODAY-

📍AlexBank is headed to the EGX: The Finance Ministry is preparing to IPO its 20% stake in Bank of Alexandria on the EGX this year after talks for a strategic sale to Intesa Sanpaolo stalled, a senior government source exclusively tells EnterpriseAM.

This is the execution of the roadmap we revealed earlier this month. The move validates earlier reporting that the state is adding 13 new companies to the privatization roster — a plan that crystallized with the USD 6 bn target we revealed earlier this month.

^^ Read tomorrow’s edition of EnterpriseAM for a full breakdown on the AlexBank valuation, the updated timeline for Banque du Caire, and plans for a Gabal El-Zeit sale.

THE BIG STORY ABROAD-

🌐 Trade is dominating the headlines this afternoon as the EU and India concluded negotiations on a landmark freetrade agreement to scrap tariffs on 99.5% of Indian goods. The pact aims to boost two-way trade and hedge against the US’ volatile policies and relentless tariff threats. The two-decades-in-the-making agreement is expected to save European companies around EUR 4 bn in duties and double EU exports to India by 2032.

^^ Read more on Reuters, the Financial Times, and Bloomberg.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Admaius Capital Partners is exiting its stake in cosmeceutical manufacturer Parkville Pharma after just two years, selling to Africa-focused private equity firm Adenia Partners in a transaction that underscores a broader revival in Egypt’s private equity and M&A markets;
• The Finance Ministry is planning to increase allocations for export subsidies and industrial localization programs in the FY 2026-27 budget draft, a senior government official tells us;
• The Central Bank of Egypt has room for another 500-600 basis points of rate cuts this year, Deutsche Bank says in a new research note seen by EnterpriseAM — and the risks are tilted toward even deeper easing if fiscal reforms pick up pace or global conditions turn sour.

☀️ TOMORROW’S WEATHER- We’re in for a breezy — and somewhat dusty — day in Cairo tomorrow, with a high of 21°C and a low of 11°C, according to our favorite weather app.