Banque du Caire has raised its target stake for its share offering on the Egyptian Stock Exchange from 30% to 45% of its capital.
This comes after attracting international investments with a total value of up to $200 million.
CI Capital, the lead offering manager and international coordinator, announced its success in attracting both the European Bank for Reconstruction and Development and the International Finance Corporation to participate in the private placement tranche.
Under separate agreements with Banque du Caire and its main shareholder, Banque Misr, the two institutions agreed to participate with a stake of up to 15.74% each in the private placement tranche.
The number of shares allocated will be determined according to the final offering price.
This price is set to be determined through a book-building mechanism, which relies on investor orders to set the final price of the shares offered.
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