Cairo Bank Raises Share Offering in Egyptian Stock Exchange to 45 Percent
The Financial Regulatory Authority approved increasing Cairo Bank's share offering in the Egyptian Stock Exchange to 45%, in partnership with the European Bank for Reconstruction and Development and the International Finance Corporation.
Translated by Qiyas from الراي — Original source
Bloomberg – The Financial Regulatory Authority approved an increase in the percentage of shares allocated to the public and private offerings of Cairo Bank at the Egyptian Exchange, from 30% to 45%, according to a disclosure statement by the bank.
Cairo Bank, along with its major shareholder Bank Misr, also signed separate agreements with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), under which each agreed to independently participate in the first tranche of the private offering with a stake of up to 15.74%, according to a bank statement.
The participation of the EBRD and IFC in the private offering involves investments with a total value of up to $200 million, which contributed to increasing the offering size from 30% to 45% of the bank’s capital, driven by strong interest from prominent international financial institutions, according to a statement issued by CI Capital, acting as the lead manager and international coordinator of the offering.
Cairo Bank and Bank Misr had previously signed investment agreements with four qualified investors to participate in the private tranche of the offering on the Egyptian Exchange.
Plans for Cairo Bank’s listing on the exchange date back several years, as its shares were listed in 2017, but the sale process was repeatedly postponed amid market volatility and disputes over the bank’s valuation.
In June 2025, negotiations for the acquisition of the Egyptian bank by Emirates NBD were halted due to valuation discrepancies, after the UAE bank raised its offer to $1.5 billion, while the Egyptian government insisted on a valuation of $1.8 billion for the entire bank, before later turning to the public offering option.
The listing of Cairo Bank is part of Egypt’s government divestment program aimed at expanding private sector participation in the economy through the sale of stakes in state-owned companies and banks, either via the stock exchange or to strategic investors.
The fair estimated value of the bank ranges between EGP 80 billion and EGP 80.5 billion, according to Baker Tilly, the independent financial advisor to Cairo Bank. The government has appointed EFG Hermes Holding and CI Capital as advisors to manage the offering, with Baker Tilly serving as the independent financial advisor.
