Arab Finance: CI Capital, which serves as a bookrunner, is planning to conduct a roadshow for offering a 30% stake in The United Bank on the Egyptian Exchange (EGX) in November, Al Borsa News reported, citing sources in the know.
The roadshow will cover several Gulf countries, including Saudi Arabia, the UAE, and Kuwait, the sources noted.
They added that the tour aims to attract investors for the bank’s private placement, which is expected to account for around 25% of the bank’s total share capital, while the remaining 5% will be allocated to the public offering.
On October 28th, The United Bank announced plans to offer 30% of its shares, approximately 330 million, in a secondary offering on the EGX.