CBE Governor attends Banque du Caire’s EGX debut following record IPO

Prime Minister Mostafa Madbouly and heads of the FRA and EGX attend the opening-bell ceremony marking the largest IPO in the Egyptian stock market’s history

Governor of the Central Bank of Egypt (CBE), Hassan Abdalla, participated in the opening-bell ceremony marking the first trading session of Banque du Caire (BDC) shares on the Egyptian Exchange (EGX) on Monday, 2 November 2026.

The ceremony, attended by Prime Minister Mostafa Madbouly, marked the bank’s debut on the EGX’s main market, where its shares began trading within the banking sector following the largest initial public offering (IPO) in the history of the Egyptian stock market.

Also attending were Islam Azzam, Chairman of the Financial Regulatory Authority (FRA); Hashem El-Sayed, Assistant to the Prime Minister and Chief Executive of the Cabinet’s Central Unit for Monitoring and Regulating State-Owned Companies; Omar Radwan, Chairman of the Egyptian Exchange; Mohamed El-Etreby, Chief Executive Officer of the National Bank of Egypt; Hisham Okasha, Chief Executive Officer of Banque Misr; and Hussein Abaza, Managing Director and Chief Executive Officer of Banque du Caire, alongside senior officials and representatives of the banking and capital market sectors.

Speaking at the ceremony, Prime Minister Mostafa Madbouly expressed his pleasure at attending the inaugural trading session of Banque du Caire shares on the Egyptian Exchange, describing the event as a turning point in Egypt’s economic reform programme.

He said the transaction, which represents the largest IPO in the history of the Egyptian capital market, marks a significant achievement in implementing the state’s vision and State Ownership Policy Document.

Madbouly highlighted the role of the policy in expanding private sector participation in the economy and broadening the ownership base of state-owned assets, providing greater opportunities for both individual and institutional investors.

For his part, CBE Governor Hassan Abdalla said the strong interest in Banque du Caire’s offering from major international financial institutions, including the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), alongside retail investors, reflects the success of the bank’s listing on the EGX.

Abdalla noted that the level of investor interest demonstrates the strength and resilience of Egypt’s banking sector, supported by its robust financial indicators.

He added that the offering’s success also signals strong confidence in the Egyptian economy and the effectiveness of the economic reforms implemented by the state, further strengthening Egypt’s position as an attractive destination for international investment.

Meanwhile, EGX Chairman Omar Radwan described the commencement of trading in Banque du Caire shares as a defining moment in the development of Egypt’s capital market.

“Our celebration today at this historic headquarters to mark the start of trading in BDC shares signals a new and defining phase in the journey of the capital market,” Radwan said.

“Together, we record the completion of the largest listing in the history of the EGX, with a total value exceeding EGP 36.37bn.”

He stressed that the significance of the transaction extends beyond the listing of Banque du Caire, a longstanding banking institution established in 1952.

“Undoubtedly, this benchmark extends beyond the listing of a reputable banking institution established in 1952; it serves as tangible proof and a clear demonstration of confidence in the resilience of the Egyptian economy, the attractiveness of its investment climate, and the market’s capacity to absorb and cover billion-dollar offerings of strategic significance,” he added.

Radwan further highlighted the record investor demand for the offering, saying it reflects strong confidence in the Egyptian economy among both institutional and individual investors.

The public offering was oversubscribed 27 times, with purchase orders exceeding 9.28bn shares, alongside broad institutional and international demand for the private offering.

He noted that the IPO attracted more than USD 500mn in investment inflows transferred from abroad, underscoring the ability of Egypt’s capital market to attract significant foreign investment.

The EGX chairman added that the success of the transaction is expected to support the exchange’s institutional development plans and deepen market liquidity, in line with the objectives of comprehensive economic growth.

“We will continue working to introduce innovative financial instruments and mechanisms to attract new segments of retail and institutional investors, as well as regional and international investment funds,” Radwan said.

He added that these efforts aim to position the EGX as a leading financial hub capable of keeping pace with ongoing developments while providing sustainable funding for major national institutions.

Banque du Caire’s offering represents a milestone in the history of the Egyptian capital market, with a total of 6,862,500,000 shares offered, equivalent to 45 per cent of the bank’s 15,250,000,000 outstanding shares.

The transaction was valued at EGP 36,371,250,000, making it the largest IPO in the history of the Egyptian stock market.

Based on the offering valuation, Banque du Caire’s market capitalisation stands at approximately EGP 80,825,000,000, while its issued share capital amounts to EGP 30,500,000,000.