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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 before its IPO during Q1 2025.
Representatives United Bank of Egypt will be touring the globe in the next two months to promote its upcoming initial public offering (IPO) on the Egyptian Exchange (EGX). This was revealed by the bank’s CEO Ashraf El-Kady to Al Sharq recently.
El-Kady revealed that the bank will be meeting with potential investors in the Gulf, Europe, and the USA to offer its shares, sharing that the bank could sell a maximum stake of 49%.
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 before its IPO during Q1 2025. The CBE has previously attempted to sell United Bank a few times, however was unsuccessful at closing a deal with any of the investors who examined the bank.
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In its announcement, the CBE shared that it was currently seeking the required approvals for this offering, including those from the Financial Regulatory Authority (FRA) and the EGX.
