Cairo Bank Offers 30 Percent of Its Shares on the Stock Exchange
Egypt's Cairo Bank announces the offering of 30% of its shares on the stock exchange, while the Minister of Electricity reveals nuclear plans and Sisi discusses trade relations with Indonesia.
Translated by Qiyas from الراي — Original source
- $1.6 billion in trade between Egypt and Indonesia over eight months
The Egyptian Bank of Cairo announced its intention to offer 30 percent of its capital on the Egyptian Exchange, through the sale of 4.575 billion existing shares held by Bank Misr, via a public offering within Egypt and a private placement for qualified investors in Egypt and several international markets.
The bank stated in a press release that the offering is currently awaiting the completion of necessary regulatory approvals, including approval from the Financial Regulatory Authority for the offering prospectus, the registration of the bank’s shares, and approvals from the Egyptian Exchange.
Meanwhile, televised statements by Minister of Electricity and Renewable Energy Dr. Mahmoud Esamat revealed that Egypt is considering establishing additional nuclear reactors, with no final decision yet made regarding the number of new reactors.
He said, “There is no danger from the impact of nuclear reactors. Nuclear fuel is scheduled to arrive at the El Dabaa Nuclear Power Plant in May 2027. Egyptian cadres are undergoing training on the operation of nuclear power plants. The El Dabaa plant is expected to contribute to saving approximately $4 billion annually in the cost of natural gas used for electricity generation.”
He added, “There is potential to expand future interconnection projects to include Syria, Lebanon, and Iraq, thereby supporting regional integration in the energy sector. The electricity interconnection project with Saudi Arabia aims to facilitate energy exchange between the two countries according to differences in peak consumption times. Egypt currently exports electricity to Sudan, Libya, and Jordan.”
He further noted, “The electricity sector’s debt to the Ministry of Petroleum amounts to 388 billion Egyptian pounds. The ministry pays more than 20 billion pounds monthly for natural gas consumption, and it has a plan to settle this debt in cooperation with the Ministry of Finance.”
On the occasion of Egyptian President Abdel Fattah el-Sisi’s visit to Indonesia, a recent report issued by the Egyptian Central Agency for Public Mobilization and Statistics, which covered Egypt-Indonesia trade relations, revealed that the value of bilateral trade reached $1.6 billion during the first eight months of 2026, compared to $1.4 billion during the same period in 2025.
The report noted that the value of Egyptian exports to Indonesia recorded $66 million during the first eight months of 2026, compared to $120 million during the same period in 2025, while the value of Egyptian imports from Indonesia reached $1.5 billion during the period, compared to $1.3 billion during the same period in 2025.
Minister of Finance Ahmed Kouchak stated during the Egypt-Turkey Business Forum in Istanbul that the government is working to provide further facilitations and incentives for the local and foreign business community, emphasizing that investors are partners of the state, and that the growth and expansion of the private sector serve the interests of the Egyptian economy.
