Egypt’s state-owned Banque du Caire is drawing significant investor interest ahead of its planned initial public offering (IPO) this month, according to Chief Executive Officer Hussein Abaza. The Cairo-based lender is offering a 30 percent stake, marking one of the country’s major public listings amid a period of regional instability.

Abaza noted in an interview that investors from a diverse range of regions—including Africa, North America, Europe, and the Gulf—have shown enthusiasm for the sale. The IPO, announced on October 11, is seen as a pivotal step that could accelerate the Egyptian government’s ongoing privatisation efforts, which have been underway for several years.

The timing of Banque du Caire’s public offering follows closely on the heels of Egypt’s fintech unicorn MNT-Halan, which recently launched what is considered the nation’s largest offering in years. MNT-Halan’s IPO aims to raise approximately $150 million from its domestic market, underscoring a broader resurgence in local investor confidence.

These transactions come despite three years of conflict in parts of the Middle East, highlighting Egypt’s relative economic stability and its appeal to both regional and international investors. The leads of these IPOs reflect a renewed optimism in Egypt’s stock market and wider economy as the government continues to pursue structural reforms and privatisation to enhance fiscal health and stimulate growth.