Back to the complete issue
Monday, 27 January 2020

BdC on track for 1H2020 IPO following successful inaugural roadshow

PRIVATIZATION WATCH- BdC on track for 1H2020 IPO following successful inaugural roadshow: The first leg of the government’s roadshow for Banque du Caire’s (BdC) upcoming IPO saw “large” investor appetite for the bank’s EGX debut from major investment funds in London, Dubai and Abu Dhabi, Hapi Journal reports, citing informed sources. Officials are currently gearing up for the second leg of the roadshow, which will gauge investor demand in New York and Boston next month.

The state-owned bank’s IPO could go to market by the end of 1Q2020 or the beginning of 2Q2020, the sources say. This is in line with previous statements from Central Bank of Egypt Governor Tarek Amer and Banque du Caire Chairman Tarek Fayed, who said last month that BdC plans to IPO in 1Q2020 (market conditions permitting).

Background: BdC appears to be ready to be the first state-owned company to IPO under the state privatization program, and will likely be followed by payments platform e-Finance. The program, which the government first announced back in 2018, includes eight companies expected to IPO. BdC’s IPO is expected to include a primary offering and to see the state simultaneously offload part of its equity stake in a secondary sale.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.