EGX receives listing request from United Bank
Updated 10/17/2024 9:12:00 AM
Arab Finance: The Egyptian Exchange (EGX) has received an official request from The United Bank to list its shares on the main market, as per an EGX disclosure.
The bank’s total issued capital to be listed is EGP 5.5 billion, spread across 1.1 billion shares, each with a nominal value of EGP 5.
The listing documents are currently being reviewed before being presented to the EGX’s listing committee.
As per Article 20 of the Financial Regulatory Authority’s (FRA) securities listing and delisting rules, the announcement will be published for five business days as of date of publishing.
In September, the Central Bank of Egypt (CBE) had announced plans to offer a portion of The United Bank’s shares on the EGX while working to secure necessary approvals from both the FRA and EGX.
It was also previously reported that the bank’s offering is expected to be completed by the first quarter (Q1) of 2025, subject to market conditions and regulatory consent.
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