Banque du Caire names four cornerstone investor groups for IPO

Banque du Caire names four cornerstone investor groups for IPO

Banque du Caire entered into cornerstone investment agreements with four investor groups for the private placement tranche of its planned offering on the Egyptian Exchange (EGX).

The investors have agreed to subscribe for up to specified percentages of the private placement tranche, which accounts for 95% of the total shares offered for sale.

The disclosed groups are Sustainable Capital Limited, RWC Asset Management LLP and RWC Asset Advisors (US) LLC, Waha Investments Limited, and Helikon Investments Limited. Sustainable Capital Limited, incorporated under the laws of Mauritius, has agreed to invest up to 18% of the tranche. RWC Asset Management LLP and RWC Asset Advisors (US) LLC have agreed to a combined allocation of up to 10%. Waha Investments Limited, incorporated under the laws of the United Arab Emirates, has agreed to invest up to 9%. Helikon Investments Limited, acting as investment manager for the Helikon Long Short Equity Fund Master ICAV, has agreed to invest up to 25% of the tranche.

Each investor’s commitment is governed by a separate agreement. The bank said the final allocation will depend on the offering price and the applicable contractual terms, and that the number of shares each investor receives has not yet been announced.

The bank said the next key disclosure will be the offering results, when Banque du Caire is expected to announce the number of shares allocated to each cornerstone investor.