Baker McKenzie has advised Banque du Caire and its principal shareholder, Banque Misr, on Banque du Caire's EGP36.37 billion (approximately USD 658 million) IPO, the largest IPO in the history of the EGX.
The IPO attracted strong interest from international, regional and domestic investors, including cornerstone institutions, reflecting confidence in Banque du Caire's investment proposition and the continued development of Egypt's capital markets. The transaction included a EGP 34.55 billion private offering, which attracted approximately EGP 205.8 billion in orders, making it the largest private tranche in EGX IPO history and one of the most heavily oversubscribed offerings in the Egyptian market.
Drawing on our Egyptian, US and English law capabilities, Baker McKenzie advised on all aspects of the transaction, from pre-IPO preparation and transaction structuring through to regulatory approvals, offering documents and execution of the offering. We also drafted and negotiated investment agreements with multiple cornerstone investors and coordinated these arrangements alongside the broader IPO process.
Hani Nassef, Partner at Baker McKenzie in Cairo, commented:
“This IPO represents a landmark transaction for Banque du Caire and a significant transaction for the Egyptian capital markets. We are proud to have advised Banque du Caire and Banque Misr throughout the journey, playing a central role in the preparation, structuring and successful execution of the offering. We are grateful for the trust and confidence our clients placed in our team throughout the process.”
The Baker McKenzie team was led by Hani Nassef, Partner and Head of M&A and Capital Markets in Cairo, with Charles Farnsworth, Capital Markets Counsel in London, co-leading on the US and UK law aspects. They worked closely with Mohamed Abdelhalim, Counsel, Cairo, Omar Zaki, Senior Associate, Cairo, and Charlene McAuley, Manager, Belfast, all of whom played instrumental roles in bringing the transaction to a successful completion.
Mohamed Ghannam (Senior Counsel, Cairo) and Adam Farlow (Partner, London) provided senior-level strategic advice on key elements of the offering.
The wider Baker McKenzie team included Mostafa Lotayef (Partner, Cairo), George Marshall (Partner, London), Zeinab Shohdy (Counsel, Cairo), Mohamed Abdelaleem (Counsel, Cairo), Amgad Yousry (Consultant, Cairo), Mohamed Hafez (Counsel, Cairo), Ghada El Gharib (Counsel, Cairo), Milad Fayez (Senior Associate, Cairo), Ahmed Shehata (Senior Associate, Cairo), Peryhane Gawish (Senior Associate, Cairo), Hayna Abdelrahim (Associate, Cairo), Chirouette Elmasry (Associate, Cairo), Noureldin Elhayatmy (Associate, Cairo), Hala Mohamed (Associate, Cairo), Hanna Ahmed (Associate, Cairo), Mohamed Aon (Associate, Cairo) and Hania Elshazly (Associate, Cairo).
This transaction reflects the commitment and collaboration of colleagues across multiple offices and practice groups. We thank our clients, fellow advisers, regulators and government stakeholders for their cooperation and support in bringing this landmark transaction to market.
The IPO attracted strong interest from international, regional and domestic investors, including cornerstone institutions, reflecting confidence in Banque du Caire's investment proposition and the continued development of Egypt's capital markets. The transaction included a EGP 34.55 billion private offering, which attracted approximately EGP 205.8 billion in orders, making it the largest private tranche in EGX IPO history and one of the most heavily oversubscribed offerings in the Egyptian market.
Drawing on our Egyptian, US and English law capabilities, Baker McKenzie advised on all aspects of the transaction, from pre-IPO preparation and transaction structuring through to regulatory approvals, offering documents and execution of the offering. We also drafted and negotiated investment agreements with multiple cornerstone investors and coordinated these arrangements alongside the broader IPO process.
Hani Nassef, Partner at Baker McKenzie in Cairo, commented:
“This IPO represents a landmark transaction for Banque du Caire and a significant transaction for the Egyptian capital markets. We are proud to have advised Banque du Caire and Banque Misr throughout the journey, playing a central role in the preparation, structuring and successful execution of the offering. We are grateful for the trust and confidence our clients placed in our team throughout the process.”
The Baker McKenzie team was led by Hani Nassef, Partner and Head of M&A and Capital Markets in Cairo, with Charles Farnsworth, Capital Markets Counsel in London, co-leading on the US and UK law aspects. They worked closely with Mohamed Abdelhalim, Counsel, Cairo, Omar Zaki, Senior Associate, Cairo, and Charlene McAuley, Manager, Belfast, all of whom played instrumental roles in bringing the transaction to a successful completion.
Mohamed Ghannam (Senior Counsel, Cairo) and Adam Farlow (Partner, London) provided senior-level strategic advice on key elements of the offering.
The wider Baker McKenzie team included Mostafa Lotayef (Partner, Cairo), George Marshall (Partner, London), Zeinab Shohdy (Counsel, Cairo), Mohamed Abdelaleem (Counsel, Cairo), Amgad Yousry (Consultant, Cairo), Mohamed Hafez (Counsel, Cairo), Ghada El Gharib (Counsel, Cairo), Milad Fayez (Senior Associate, Cairo), Ahmed Shehata (Senior Associate, Cairo), Peryhane Gawish (Senior Associate, Cairo), Hayna Abdelrahim (Associate, Cairo), Chirouette Elmasry (Associate, Cairo), Noureldin Elhayatmy (Associate, Cairo), Hala Mohamed (Associate, Cairo), Hanna Ahmed (Associate, Cairo), Mohamed Aon (Associate, Cairo) and Hania Elshazly (Associate, Cairo).
This transaction reflects the commitment and collaboration of colleagues across multiple offices and practice groups. We thank our clients, fellow advisers, regulators and government stakeholders for their cooperation and support in bringing this landmark transaction to market.
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