Egypt’s Banque du Caire eyes slimmed-down IPO post-Covid

Banque du Caire was on the cusp of completing a $500 million listing in London and Cairo last year when Covid hit. Its chairman Tarek Fayed meets Euromoney to talk about investing in people and digital – and why he still wants to complete a slimmed-down stock sale when conditions allow.

Banque du Caire was so nearly there.

The Egyptian lender was on track to complete a $500 million initial public offering in the spring of 2020. Everything was in place. Its owner, state-owned lender Banque Misr, had committed to offloading up to 30% of the Cairo-based bank.

Jump To

Underwriters HSBC and EFG Hermes had a slew of anchor investors, including the European Bank for Reconstruction and Development and the Sovereign Fund of Egypt, ready to buy up to $75 million worth of available stock.

Thanks for your interest in Euromoney!
To unlock this article: