The Egyptian Stock Exchange (EGX) announced that during Wednesday's trading session, the implementation of the public and private offering of United Bank (UBEE.CA) shares for 330 million shares, representing 30% of the issued capital shares, at a price of EGP 13.85 per share, in two tranches (public and private), with a total value of EGP 4,570,500,000, as follows:
The first tranche (private offering) was implemented on 313.5 million shares, representing 95% of the total shares and 28.50% of the total issued capital shares, with a value of EGP 4,341,975,000.
The second tranche (IPO) was implemented on16.5 million shares, representing 5% of the total shares offered for sale and 1.50% of the total issued capital shares, with a value of EGP 228,525,000.
According to a statement issued by the EGX, Sunday, the process of listing and offering the United Bank shares on the stock exchange was carried out with high professionalism within the framework of full coordination between the stock exchange, the Financial Regulatory Authority, the Central Bank, the Misr Clearing, Depository and Central Registry Company, the offering manager, and all brokerage firms that participated in the offering process.
The bank submitted a listing request on October 16, and the listing committee approved the listing of its shares on October 23.
The offering was fully implemented at the beginning of today's trading session. Surplus funds were also made available to the accounts of the offering clients on the same day.
The private offering was covered 6 times, while the public offering was covered about 59 times, with an allocation rate of 1.7%.
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