The United Bank announced the successful completion of its public and private offering of 330 million shares, representing 30 percent of its issued capital, raising a total of LE 4.57 billion.
According to the bank, the share price was set at LE 13.85, with the offering divided into two tranches.
The private offering included 313.5 million shares, accounting for 95 percent of the total shares offered and 28.5 percent of the bank's issued capital.
This tranche raised LE 4.341 billion and was oversubscribed six times. It targeted institutional investors, financial entities, and experienced individuals in the securities market.
The public offering, comprising 16.5 million shares, represented 5 percent of the total shares offered and 1.5 percent of the bank's issued capital.
This tranche raised LE 228.525 million and was heavily oversubscribed, with initial purchase orders amounting to approximately 974.292 million shares—covering the offering nearly 59 times.
The bank stated that the strong investor demand reflects confidence in its growth strategy and underscores its commitment to expanding its market presence.
This development marks a significant milestone for The United Bank as it continues to align its operations with its strategic growth objectives.
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