The public offering represents 5% of the total shares up for sale, which accounts for 1.5% of the bank’s total equity.
Data revealed that demand for the United Bank’s public offering reached 974.3 million shares, significantly exceeding the 16.5 million shares available, resulting in a 59.048x oversubscription as the subscription window closed.
The public offering represents 5% of the total shares up for sale, which accounts for 1.5% of the bank’s total equity. United Bank, with a paid-up capital of EGP 5.5 billion, is structured into 1.1 billion shares with a nominal value of EGP 5 per share. The bank’s ownership is primarily held by the Central Bank of Egypt (CBE), which owns 99.998 million shares, with the remainder owned by employee funds at CBE and the National Bank of Egypt.
The United Bank has set ambitious targets for its net profit, aiming to reach 3.071 billion Egyptian pounds by the end of 2025, 3.821 billion in 2026, 5.197 billion in 2027, and 6.681 billion in 2028.
The United Bank’s IPO is Egypt’s first since 2021, signaling a revival of the country’s privatization efforts. This move aligns with the government’s strategy to reduce state involvement in the economy and attract foreign investment.
The IPO is part of Egypt’s broader plan to divest assets across various sectors, including banking, energy, and real estate. The government aims to enhance state assets and stimulate economic growth through strategic asset divestiture.
