November–December 2024: the Central Bank of Egypt sold 30% of United Bank (330m shares at EGP 13.85) on the EGX. The institutional tranche was 6x oversubscribed, the retail tranche 59x, and the whole offering 8.6x, Egypt’s largest IPO since 2021 and the first state-owned listing in three years. Trading began 10 December 2024.
Value: EGP 4.57bn (~US$104m for 30%; ~US$299m market capitalisation) (verified against public announcements).
Advisers: CI Capital, sole global coordinator and bookrunner (advising the CBE and United Bank); Helmy Hamza & Partners, Baker McKenzie Cairo, transaction counsel (publicly confirmed by the firm, with partners Hani Nassef and Mohamed Ghannam quoted).
Recorded by The Meridian research desk from public announcements, regulatory filings and financial press coverage. Dates and values are as publicly reported.
