In brief
On Monday, Egypt completed the largest initial public offering on its stock market by selling 45% of Banque du Caire for about 36.3 billion Egyptian pounds ($650.7 million). The issuance involved more than 6.86 billion shares and valued the bank at roughly 80.8 billion Egyptian pounds, Xinhua said. Prime Minister Mostafa Madbouly described the listing as a step toward expanding private‑sector participation and broadened share ownership, while Exchange chairman Omar Radwan hailed it as a new chapter for Egypt's capital market.
Egypt completed the largest initial public offering on its capital market on Monday, 2 November 2026, when 45 percent of Banque du Caire was sold for roughly 36.3 billion Egyptian pounds, amounting to about 650.7 million U.S. dollars, Xinhua reported.
The offering comprised more than 6.86 billion shares, bringing the bank’s market‑capitalization to approximately 80.8 billion Egyptian pounds, the source added, noting that the transaction represents a record for the Egyptian Exchange.
Prime Minister Mostafa Madbouly attended the opening‑bell ceremony at the Egyptian Exchange in Cairo, where he joined senior banking and capital‑market officials to mark the bank’s debut trading under the new share structure, Xinhua noted.
Madbouly described the listing as a “major milestone in Egypt’s economic reform program,” highlighting that the move directly supports the State Ownership Policy’s objective of broadening private‑sector participation in the economy and expanding individual and institutional share ownership.
“The listing of Banque du Caire represents an important step in our efforts to transform the economy and open it up to a wider pool of investors,” Madbouly said.
In response, Omar Radwan, chairman of the Egyptian Exchange, said the offering marked a new chapter for the country’s capital market, underscoring the increasing confidence in Egypt’s financial infrastructure, Xinhua reported.
The ceremony also saw other officials from the Ministry of Finance, the Central Bank of Egypt and the State Holding Company for Investment and Consolidation, a group that owns a significant stake in Banque du Caire, accompany the Prime Minister in celebrating the milestone, the report added.
In the announcement, the state-owned bank’s shareholdership structure was clarified: the offering sold 45 percent of the bank’s equity, leaving a majority stake under state control, according to Xinhua’s statement.
Officials said the price per share during the IPO was set through a regulation‑broadening listing process that aimed to create a transparent and equitable market price for the bank’s stock, Xinhua noted.
The Egyptian government has used IPOs of state‑owned enterprises as a tool for encouraging the participation of retail and institutional investors, with the priority of increasing share ownership among the general public, the source explained.
By boosting the bank’s market presence, the Egyptian authorities anticipate a wider effect on the economy, including higher liquidity and greater access to financing for small and medium enterprises, Xinhua said.
Financial analysts quoted by Xinhua suggested that the successful completion of this record‑sized offering could set a precedent for similar future listings, potentially accelerating the transformation of Egypt’s private‑sector contribution to GDP, the outlet added.
