Arab Finance: The United Bank intends to offer 330 million of its shares on the Egyptian Stock Exchange, equivalent to 30% of its shares, according to… statement Issued by the bank.
The bank, owned by the Central Bank of Egypt, plans to begin trading its shares on the Egyptian Stock Exchange before the end of the year, that is, a quarter of a year earlier than initially expected.
The Egyptian Stock Exchange Listing Committee approved the temporary listing of the United Bank, as 1.1 billion shares with a nominal value of 5 pounds per share were listed as of last Thursday.
CI Capital will act as the global coordinator and sole lead manager for the offering, and Helmy Hamza & Partners – Baker McKenzie's Cairo office – has been appointed as legal advisor for the offering.
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