Abdalla highlighted that the listing, the first for a bank on the Egyptian Exchange in over 25 years, represents a pivotal step in the CBE’s efforts to enhance the financial sector’s role in the national economy
The share price was set at EGP 13.85 per share, raising a total of EGP 4.57 billion across two tranches.
The public offering represents 5% of the total shares up for sale, which accounts for 1.5% of the bank’s total equity.
United Bank also announced that its private placement of approximately 313.5 million shares was oversubscribed by six times. The coverage came from financial institutions, government entities, and individual investors with expertise in securities markets.
A maximum of 313.5 million shares were offered, representing 95% of the total shares offered for sale and 28.5% of the bank's total shares.
