The retail offering will run from 20 to 25 November. Meanwhile, the institutional offering will commence on 27 November and run until 3 December. 

Institutional offerings are designed for large investors, such as banks and funds. They involve larger transactions, fewer regulatory requirements, and the potential for negotiated pricing.

On the other hand, retail offerings target individual investors with smaller investments, stricter regulations, and a fixed or publicly determined offering price.  

This announcement follows UB’s November disclosure of its plan to raise between EGP 4.16 billion and EGP 5.14 billion through its upcoming initial public offering (IPO) on the EGX.  

Earlier in October, UB confirmed its intention to list 30 percent of its capital — equivalent to 330 million shares owned by the Central Bank of Egypt (CBE) — on the EGX.

This came after the CBE’s announcement in September of its plan to divest some of its holdings in UB.  

According to UB’s website, CI Capital Investment Banking S.A.E. has been appointed as the sole global coordinator and bookrunner for the offering.

Meanwhile, legal counsel for the process will be provided by Helmy, Hamza & Partners, the Cairo office of Baker McKenzie.  

United Bank is among 32 state-owned companies identified for divestment under the government’s IPO programme.  

This initiative is part of the government’s broader strategy to strengthen the private sector’s role in the economy. It aligns with the $8 billion loan agreement with the International Monetary Fund (IMF), aimed at fostering growth through private-sector investment.