Egypt is about to lift as much as E£5.15bn ($104mn) by way of the sale of a 30% stake within the state-owned United Financial institution in a partial IPO on the Egyptian inventory change (MEES, 22 November).
Some 95% of the stake on supply (313.5mn shares) was bought on to traders in a personal placement that ran from 20 to 25 November, with an indicative worth vary of E£12.7 to E£15.6 ($0.26 to $0.31) per share. The remaining 16.5mn shares (5% of the stake on supply and 1.5% of the financial institution’s whole shares) are actually supplied to the general public in an IPO operating from 27 November to three December. (CONTINUED – 124 WORDS)
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