The public offering represents 5% of the total shares up for sale, which accounts for 1.5% of the bank’s total equity.
The offering closed today and witnessed buy orders reaching 938 million shares by the end of Sunday’s trading session, far surpassing the 313.5 million shares allocated to this tranche
The benchmark EGX30 rose 0.41 percent, or 126.86 points, closing at 31,394.33 points.
This public offering follows the CBE's announcement in September regarding plans to sell a portion of its shares in the United Bank on the EGX.
Earlier this week, the Central Bank of Egypt (CBE) – which owns 99% of United Bank – announced that it would be offering a stake in the bank’s shares prior to its IPO during Q1 2025.
