United Bank of Egypt to List 30% of Shares on EGX

News Agencies

United Bank of Egypt (UBE) will  embark on a significant privatization move by listing 30% of its shares on the Egyptian Exchange (EGX). This strategic initiative is expected to be completed before the end of the year, marking a major step in Egypt’s broader efforts to liberalize its economy.

Key Highlights of the IPO:

The successful listing of UBE shares is contingent upon obtaining necessary approvals from the FRA and the EGX. Further,  key shareholders of UBE are required to retain at least 51% of their holdings for a period of two years post-listing. This measure aims to ensure stability and investor confidence.

By going public, UBE aligns itself with Egypt’s broader privatization agenda, which seeks to unlock the potential of state-owned enterprises and foster economic growth. The listing is expected to increase transparency, improve corporate governance, and attract foreign investment to the Egyptian market.

You may also like

Leave a Comment

Top 50 Women Forum is the first platform in Egypt to work exclusively on empowering women professionals, with the purpose of strengthening their contribution development & decision-making processes.

Top 50 Women Forum is the first platform in Egypt to work exclusively on empowering women professionals, with the purpose of strengthening their contribution development & decision-making processes.

©2024 COPYRIGHTS BY EXLNT COMMUNICATIONS All Rights Reserved.