Sunday 22 Dec
A statement on the website of the United Bank of Egypt confirmed Egypt's aim to raise EGP 5 billion through a public offering of 30% of its shares on the Egyptian Stock Exchange. The offering, scheduled to conclude before the end of the year, will involve the sale of 330 million shares at a price range of EGP 12.7 to EGP 15.6 per share.
The majority of the shares, 313.5 million, will be allocated to private investors through a private placement. The remaining 16.5 million shares will be offered to small investors through a public offering.
