Banque du Caire IPO public tranche oversubscribed 2.54x as EGX falls

Subscriptions to the public tranche of Egypt-based lender Banque du Caire ’s initial public offering (IPO) reached 2.54 times the allocated shares on Sunday, October 25, as the Egyptian Exchange (EGX) closed sharply lower amid widespread selling.

Orders totaled approximately 581.4 million shares, up from the previously reported 453.6 million, an increase of 127.8 million…