United Bank to offer 30% stake on EGX in Q4
Updated 10/28/2024 10:35:00 AM
Arab Finance: The United Bank has announced plans to offer 30% of its shares, approximately 330 million, in a secondary offering on the Egyptian Exchange (EGX), according to a press release.
The offering is expected to take place in the fourth quarter (Q4) of 2024 after fulfilling all necessary regulations, including obtaining the approvals of both the Financial Regulatory Authority (FRA) and the EGX.
CI Capital will serve as the bookrunner for the offering, while Helmy, Hamza & Partners, Baker McKenzie's Cairo office, will oversee legal advisory.
Recently, the EGX’s Listing Committee has granted provisional approval, temporarily listing 1.1 billion shares of the bank’s issues and paid-up capital at a nominal value of EGP 5 per share.
Accordingly, The United Bank’s shares were registered in the EGX’s banks database as October 24th under the ticker symbol of (UBEE.CA).
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