• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home World News Middle East

United Bank Egypt to sell 30% stake via IPO on local bourse

November 21, 2024
in Middle East
Reading Time: 2 mins read
A A
0
Egypt’s United Bank to sell 30% stake via IPO on local bourse
3
SHARES
6
VIEWS
Share on FacebookShare on Twitter


Image credit: Shawn Baldwin/ Bloomberg via Getty Images

Egypt’s central bank said on Wednesday that it will sell a 30 per cent stake in state-owned United Bank through an initial public offering (IPO) on the local exchange, as the North African nation presses ahead with plans to attract foreign investment through the sale of public assets.

The Central Bank of Egypt is offering 330 million shares in United Bank at a maximum price of EGP15.6  apiece, representing 30 per cent of the bank’s total issued share capital.

The first tranche of 313.5 million shares will be offered via a private placement running through November 25. The final 5 per cent of the shares will be sold to the wider public from November 27 to December 3.

United Bank’s 1.1 billion shares were listed on the Egyptian Exchange on October 24 in preparation for the IPO.

United Bank increased its total assets to $2.2bn (EGP106bn) at the end of June from EGP72bn in 2021, the statement said. Its net profit rose to EGP1.74bn in 2023 from EGP1.15bn two years earlier.

The bank has 68 branches, 1,800 employees, and 225 ATMs. United Bank is one of 32 companies that the government plans to sell stakes in, including Banque du Caire, Arab African International Bank, and the Bank of Alexandria (Alex Bank).

Saudi Arabia’s Public Investment Fund (PIF) previously showed some interest in buying United Bank. However, the kingdom reportedly shelved the deal in February 2023 because of a disagreement with the Egyptian authorities over its valuation.

Egypt is reportedly in talks to sell the government’s remaining 20 per cent stake in Alex Bank to Italy’s Intesa Sanpaolo. An agreement would see the Italian lender, which already owns 80 per cent of the Egypt-based bank, buy the remaining 20 per cent and take complete ownership.

Read: Delivery Hero’s Talabat sets IPO price range, seeks to raise $1.52bn


Tags: central bank of egyptIMFipoprivatisationunited bank
Previous Post

Tom Homan says Trump admin will ‘absolutely’ use gifted Texas land for deportation program

Next Post

ISRO and Australian space agency sign for cooperation in human space flight

Related Posts

Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

June 30, 2025
5
Gaza's doctors live and die by the oath to 'do no harm' — do we?

Gaza’s doctors live and die by the oath to ‘do no harm’ — do we?

June 30, 2025
8
Next Post
ISRO and Australian space agency sign for cooperation in human space flight

ISRO and Australian space agency sign for cooperation in human space flight

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Montreal Jewish museum reopens century-old sewing shop as a pop-up exhibit - Montreal

Montreal Jewish museum reopens century-old sewing shop as a pop-up exhibit – Montreal

June 30, 2025
Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

June 30, 2025
Messi: Miami 'left a good image' despite CWC exit

Messi: Miami ‘left a good image’ despite CWC exit

June 30, 2025
Walmart is selling a 'very sturdy' $170 Adirondack chair for $89, and shoppers say it's the ‘perfect size’

Walmart is selling a 'very sturdy' $170 Adirondack chair for $89, and shoppers say it's the ‘perfect size’ todayheadline

June 30, 2025

Recent News

Montreal Jewish museum reopens century-old sewing shop as a pop-up exhibit - Montreal

Montreal Jewish museum reopens century-old sewing shop as a pop-up exhibit – Montreal

June 30, 2025
5
Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

June 30, 2025
5
Messi: Miami 'left a good image' despite CWC exit

Messi: Miami ‘left a good image’ despite CWC exit

June 30, 2025
5
Walmart is selling a 'very sturdy' $170 Adirondack chair for $89, and shoppers say it's the ‘perfect size’

Walmart is selling a 'very sturdy' $170 Adirondack chair for $89, and shoppers say it's the ‘perfect size’ todayheadline

June 30, 2025
6

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Montreal Jewish museum reopens century-old sewing shop as a pop-up exhibit - Montreal

Montreal Jewish museum reopens century-old sewing shop as a pop-up exhibit – Montreal

June 30, 2025
Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

Julien Calloud appointed CEO of SAVOYE to lead a new era of performance and innovation

June 30, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co