Arab Finance: Banque du Caire will begin trading on the Egyptian Exchange (EGX) on November 2 under the ticker BQDC, following the completion of its public and private offerings on October 29, according to a bank statement.

The final offering price of EGP 5.30 per share values the bank at around EGP 80.83 billion, equivalent to $1.46 billion. Meanwhile, the private offering is valued at EGP 34.55 billion, or about $625 million.

The offering comprises approximately 6.86 billion shares, representing 45% of the bank’s issued capital. The private placement accounts for approximately 6.519 billion shares, or 95% of the offering and 42.75% of issued capital. The remaining 343.125 million shares are allocated to the public offering, representing 5% of the sale and 2.25% of issued capital.

The expanded offering follows approval from the Financial Regulatory Authority (FRA) to increase the stake for sale from 30% to 45%.

Under the original structure, the bank planned to offer 4.575 billion shares, including approximately 4.346 billion shares through the private placement and 228.75 million through the public tranche. These represented 95% and 5% of the original offering, respectively, with the public tranche equivalent to 1.5% of issued capital.

The private placement closed on October 23 and attracted demand equivalent to six times the shares offered, according to the bank’s disclosure to the EGX. Excluding shares allocated to previously disclosed qualified investors, coverage reached 19.8 times.

Earlier public subscription data showed orders for around 453.6 million shares, equivalent to 1.98 times the original public allocation of 228.75 million shares. That coverage ratio was calculated against the smaller tranche, rather than the expanded allocation of 343.125 million shares. Public subscriptions remain open until October 28.