Arab Finance: Individual investors will be able to subscribe to the public offering tranche of United Bank (UBEE)Which is scheduled to start on November 27, 2024 and continue until December 3, 2024. Investors will also be able to subscribe to 5% of the shares offered in the bank, with a total of 16.5 million shares.
The bank's private placement tranche shares were oversubscribed by approximately 5.99 times at the closing of the subscription, according to Al Mal newspaper, and the amount of purchase orders reached 1.878 billion shares, compared to 313.5 million shares allocated to the private placement tranche.
It is expected that the proceeds of the entire offering will reach 5.1 billion pounds through the sale of 330 million shares of the bank’s shares – equivalent to 30% of the United Bank’s shares.
It is worth noting that The United Bank was established as an Egyptian joint stock company in June 2006, after merging the International Islamic Bank for Investment and Development – the United Bank of Egypt – the Nile Bank.
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