United Bank is going public before year end: Central Bank of Egypt-owned United Bank will be going ahead with plans to float 330 mn of its shares — equivalent to a 30% stake — on the EGX, the company said in its intention to float (pdf). The bank plans to make its EGX debut before the end of the year — a quarter earlier than initially expected.

What’s next: The bank is in the process of obtaining the required approvals from the Financial Regulatory Authority and the EGX. The dates of the institutional and retail offerings are yet to be disclosed.

Remember: The EGX’s listing committee approved the temporary listing of United Bank last week, with the bank having listed 1.1 bn shares with a nominal value of EGP 5 per share as of last Thursday.

Advisors: CI Capital will act as sole global coordinator and bookrunner for the offering, while Helmy, Hamza & Partners — Baker McKenzie’s Cairo office — has been appointed as counsel.

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