{"id":599088,"date":"2019-06-18T04:03:20","date_gmt":"2019-06-18T04:03:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/"},"modified":"2019-06-18T04:03:20","modified_gmt":"2019-06-18T04:03:20","slug":"should-we-expect-a-bigger-offering-from-the-bdc-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/","title":{"rendered":"Should we expect a bigger offering from the BdC IPO?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <b>IPO WATCH-<\/b> <b>Banque du Caire IPO to be larger than previously expected? <\/b>The CBE could offer more of Banque du Caire (BdC) for sale in an initial public offering than previously expected, according to statements made by CBE governor Tarek Amer at the Seamless North Africa Conference <a href=\"https:\/\/almalnews.com\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%B9%D8%A7%D9%85%D8%B1-200-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AA%D8%AF%D9%81%D9%82%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84\/?fbclid=IwAR3E1pS4lU3a98bvQ74ttjHNcuFwMG4QNSAFqfXhDJh7MHt7YZkvg-oP4jg\">reported by Al Mal<\/a>. He reportedly said that the CBE was looking to sell a 30-40% stake in the bank. <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/16\/government-plans-to-offer-up-to-30-of-banque-du-caire-in-ipo-this-year\/\">Amer previously said<\/a> that the CBE was planning to offer a 20-30% stake. BdC was expecting to raise USD 300-400 mn from a 20-30% stake sale. Chairman and CEO Tarek Fayed had <a href=\"https:\/\/enterprise.press\/2019\/04\/17\/coffee-banque-du-caire-chairman-ceo-tarek-fayed\/\">told us in an exclusive interview<\/a> that BdC is internally ready for the IPO and is awaiting a decision by stakeholders and regulators.<\/p>\n<p><b>The CBE has received new bids from international institutions interested in buying United Bank<\/b> and is waiting for more before it makes a decision, <a href=\"https:\/\/www.masrawy.com\/news\/news_economy\/details\/2019\/6\/17\/1585825\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%B9%D8%A7%D9%85%D8%B1-%D8%AA%D9%84%D9%82%D9%8A%D9%86%D8%A7-%D8%B9%D8%B1%D9%88%D8%B6-%D8%A7-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%B4%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF#sectionListing\">Masrawy quotes Amer as saying<\/a>. The CBE governor said no decision has been made on a bid made by an unnamed US-based investment fund. Amer <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/18\/us-institution-makes-offer-for-united-bank\/\">announced<\/a> back in February that a US financial institution had made an offer to acquire the bank and then <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/02\/us-based-investment-fund-to-acquire-egypts-united-bank-within-three-months-says-amer\/\">said in May<\/a> that the transaction would be completed in three months\u2019 time.<\/p>\n<p><b>The governor made no mention yesterday of listing United Bank on the EGX. <\/b>Amer <a href=\"https:\/\/alborsaanews.com\/2019\/04\/29\/1199999\">had told the domestic press last month<\/a> that it is also possible that a non-controlling stake in United Bank could be offered on the EGX. The central bank owns 99.9% of the bank\u2019s shares, having created the institution through the merger of a number of smaller institutions.<\/p>\n<p><b>United bank is definitely looking to shore up its capital adequacy: <\/b>United Bank Chairman Ashraf El Kady <a href=\"https:\/\/www.alborsaanews.com\/2019\/06\/17\/1214218\">told the local press<\/a>that the lender is looking to raise its capital to conform with new capital requirements under the Banking Act. Unnamed CBE officials <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/22\/commercial-banks-could-see-capital-requirements-rise-tenfold-under-banking-act-amendments\/\">said last month<\/a> that domestic banks could see their capital requirements rise tenfold to EGP 5 bn, <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/22\/commercial-banks-could-see-capital-requirements-rise-tenfold-under-banking-act-amendments\/\">prompting National Bank of Egypt Deputy Chairman Yehia Abouel Fotouh<\/a> to state that is likely we will see mergers of smaller banks. Banks will have three years in which to raise the required capital.<\/p>\n<p><b>The CBE also signed two MoUs<\/b> yesterday with the Social Solidarity Ministry and the Financial Regulatory Authority to help boost support the fintech industry, <a href=\"https:\/\/www.alborsaanews.com\/2019\/06\/17\/1214202\">MENA reported<\/a>. No further information was available at dispatch time this morning.<\/p>\n<p><b>Also from the conference: <\/b>Egyptian fintech startups <a href=\"https:\/\/www.paynas.com\/\">Paynas<\/a> and <a href=\"https:\/\/digified.io\/\">Digified<\/a>\u2014 part of <a href=\"http:\/\/falakstartups.com\/About\/\">accelerator Falak Startups<\/a> \u2014 are among the five North African startup finalists selected for the <a href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/index.stm\">Seamless North Africa<\/a> pitch-off taking place this afternoon at the Nile Ritz Carlton. They are the only finalists representing Egypt. Paynas is a cloud-based platform that offers banking services and HR features to small businesses. Digified allows instant identity verification and data extraction from official documents in Arabic using machine learning technology.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO WATCH- Banque du Caire IPO to be larger than previously expected? The CBE could offer more of Banque du Caire (BdC) for sale in an initial public offering than previously expected, according to statements made by CBE governor Tarek Amer at the Seamless North Africa Conference reported by Al Mal. He reportedly said that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":599089,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[204,72,78,7128,2380,11284],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-banking","tag-enterpriseam","tag-ipo-watch","tag-ma-watch","tag-speed-round","tag-the-united-bank","wpautop","entry"],"acf":{"mongo_id":"3d78db88-4449-41a6-8c8f-9c76ca8b758a","is_powered_by":true,"section_story_id":"b692d5e9-308f-4b04-b0c0-c7125b36918b","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/345.jpg","photo_position":"above","related_issue":[599082],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Should we expect a bigger offering from the BdC IPO? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Should we expect a bigger offering from the BdC IPO?\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Banque du Caire IPO to be larger than previously expected? 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He reportedly said that [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-18T04:03:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/345.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Should we expect a bigger offering from the BdC IPO?\",\"datePublished\":\"2019-06-18T04:03:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/\"},\"wordCount\":480,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/345.jpg?fit=%2C&ssl=1\",\"keywords\":[\"banking\",\"EnterpriseAM\",\"IPO watch\",\"M&amp;A Watch\",\"SPEED ROUND\",\"The United Bank\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/should-we-expect-a-bigger-offering-from-the-bdc-ipo\/\",\"name\":\"Should we expect a bigger offering from the BdC IPO? 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BdC Chairman Tarek\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603357,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/21\/banque-du-caire-plans-to-raise-up-to-usd-400-mn-in-ipo\/","url_meta":{"origin":599088,"position":1},"title":"Banque du Caire plans to raise up to USD 400 mn in IPO","author":"enterpriseam admin","date":"21 April 2019","format":false,"excerpt":"Banque du Caire plans to raise up to USD 400 mn in IPO, eyes potential dual listing: Banque du Caire is expecting to raise between USD 300 mn and USD 400 mn when it sells a 20-30% stake on the EGX in its planned IPO, Chairman and CEO Tarek Fayed\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/771.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626094,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/30\/banque-du-caire-ipo-on-track-for-1q2019-bank-to-float-30-of-shares\/","url_meta":{"origin":599088,"position":2},"title":"Banque du Caire IPO on track for 1Q2019, bank to float 30% of shares","author":"enterpriseam admin","date":"30 August 2018","format":false,"excerpt":"IPO WATCH- The state-owned Banque du Caire (BdC) is still on track to float up to 30% of its shares in an initial public offering in early 2019, a senior bank official told Enterprise yesterday. Central Bank Governor Tarek Amer had said in April to expect BdC\u2019s IPO in late\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591742,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/16\/banque-du-caire-to-offer-49-stake-by-1q2020\/","url_meta":{"origin":599088,"position":3},"title":"Banque du Caire to offer 49% stake by 1Q2020","author":"enterpriseam admin","date":"16 December 2019","format":false,"excerpt":"IPO Watch- Banque du Caire to offer up to 49% in 1Q2020 IPO: State-owned Banque du Caire (BdC) could sell as much as 49% of its shares in its upcoming IPO, which is expected to hit the EGX in 1Q2020, Chairman Tarek Fayed tells Al Arabiya (watch, runtime: 1:58). Fayed\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636013,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/19\/is-the-cbe-considering-ditching-an-ipo-for-banque-du-caire-and-united-bank\/","url_meta":{"origin":599088,"position":4},"title":"Is the CBE considering ditching an IPO for Banque Du Caire and United Bank?","author":"enterpriseam admin","date":"19 December 2017","format":false,"excerpt":"IPO WATCH- Is the CBE reconsidering the IPOs of BdC, United Bank? The Central Bank of Egypt could scrap planned IPOs of state-owned Banque du Caire and United Bank and instead move ahead with stake sales to strategic investors, a senior CBE official said yesterday. CBE Deputy Governor Gamal Negm\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567547,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/27\/bdc-on-track-for-1h2020-ipo-following-successful-inaugural-roadshow\/","url_meta":{"origin":599088,"position":5},"title":"BdC on track for 1H2020 IPO following successful inaugural roadshow","author":"enterpriseam admin","date":"27 January 2020","format":false,"excerpt":"PRIVATIZATION WATCH- BdC on track for 1H2020 IPO following successful inaugural roadshow: The first leg of the government\u2019s roadshow for Banque du Caire\u2019s (BdC) upcoming IPO saw \u201clarge\u201d investor appetite for the bank\u2019s EGX debut from major investment funds in London, Dubai and Abu Dhabi, Hapi Journal reports, citing informed\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/701.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=599088"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599088\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599089"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599088"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599088"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}