Hashem El-Sayed

Money Moves

Announced the original 30% structure; the FRA approved expanding the sale to 45%, and the cabinet endorsed a 30-45% range on October 22. The IPO completed on November 2.

Banque du Caire sold 45% of itself for EGP 36.37 billion and began trading on the Egyptian Exchange on November 2, the largest public offering in the market's history. The shares closed their first session at EGP 5.31, up 0.19% from the EGP 5.30 offer price, after rising as high as EGP 5.68.

Updated Nov 2