Arab Finance: The United Bank set the indicative price range for the initial public offering on the Egyptian Stock Exchange between 12.70 and 15.60 pounds per share, with a proceeds that could range between 4.2 and 5.1 billion pounds.
This brings the bank's market value to 17.2 billion pounds, and the final price of the offering will be determined through the process of building the order book.
The United Bank had previously announced its intention Plan of 330 million shares of his shares on the Egyptian Stock Exchange before the end of this year, which is equivalent to 30% of his shares, provided that his shares begin trading on the Egyptian Stock Exchange before the end of the year.
The bank intends to allocate 95% of the offering shares (313.5 million shares) to institutions and 5% of the offering shares (16.5 million shares) to individuals.
It is worth noting that CI Capital will act as the global coordinator and sole underwriting manager for the offering, and the office of Helmy Hamza and Partners – Baker McKenzie’s office in Cairo – has been appointed as legal advisor for the offering.
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