Monday 18/November/2024 – 10:30 AM
The Financial Regulatory Authority recently announced the approval of the prospectus for the offering – public and private – of United Bank shares on the Egyptian Stock Exchange, and decided to register capital shares with the authority.
United Bank launch
And he agreed BulletinAbout 330 million shares will be offered, representing 30% of the bank’s shares, amounting to a total of 1.1 billion shares, with a minimum price range of 12.7 pounds and a maximum of 15.6 pounds per share, provided that the final price will be determined according to the results of the private offering and using the price construction mechanism.
The first tranche is scheduled to be offered privately to natural or legal persons who are investors qualified for the private offering to sell a maximum number of shares of 313.5 million shares to financial institutions, individuals and entities with experience and financial solvency, representing 95% of the total shares offered for sale, which represents 28.5% of the bank’s shares.
The second tranche includes a public offering to the public to natural or legal persons not specified in advance to sell a maximum number of shares of 16.5 million shares, representing 5% of the total shares offered for sale, which represent 1.5% of the bank’s shares.
This is with the possibility of increasing the number of shares offered for sale in the private and public offering based on the size of the coverage, to a maximum of 208.99 million shares, representing 18.99% of the bank’s total shares, after the approval of the Financial Supervision Authority.
