United Bank raises EGP 4.57B in EGX offerings
Updated 12/4/2024 3:25:00 PM
Arab Finance: The Egyptian Exchange (EGX) announced the successful execution of the public and private offerings of The United Bank (UBEE) shares, involving 330 million shares, equivalent to 30% of the bank’s issued capital, as per a disclosure.
The offering, priced at EGP 13.85 per share, raised a total of EGP 4.57 billion.
The private offering, which comprised 313.5 million shares, accounted for 95% of the total shares offered and represented 28.5% of the bank’s issued capital, generating EGP 4.341 billion.
The public offering covered 16.5 million shares, making up 5% of the shares offered and 1.5% of the issued capital, with a value of EGP 228.5 million.
The United Bank was established in June 2006 as an Egyptian joint stock company following the merger of the Islamic International Bank for Investment and Development, United Bank of Egypt, and Nile Bank.
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