Sources said that the private offering of the United Bank on the Egyptian Stock Exchange was covered 1.06 times on the first day of opening the subscription, according to “Al-Sharq Bloomberg.”
The bank has set the date for the start of the private offering of its shares on the Egyptian Stock Exchange, starting today and for a period of 5 days, while the public offering will start on November 27, until next December 3.
The United Bank is offering 330 million shares, representing 30% of its shares, for subscription on the Egyptian Stock Exchange, at a price ranging between 12.7 and 15.60 pounds per share in two tranches.
The first tranche is designated for private offering with 313.5 million shares, representing 95% of the total shares offered for sale, and the second is for public subscription with 16.5 million shares, representing 5% of the total offering.
