United Bank IPO could raise up to EGP 5.1 bn: Central Bank of Egypt-owned United Bank has set an indicative price range of EGP 12.70-15.60 per share for its upcoming IPO on the EGX, potentially rasing between EGP 4.2-5.1 bn, according to a press release (pdf). This values the bank at up to EGP 17.2 bn. The final offer price will be determined through the bookbuilding process.

Remember: The lender revealed its intention to float 330 mn of its shares — equivalent to a 30% stake — on the EGX last month, with plans to to make its EGX debut before the end of the year — a quarter earlier than initially expected, pending regulatory approvals from the Financial Regulatory Authority and the EGX.

Other new details have also emerged: 95% of the shares offered in the IPO (313.5 mn shares) will be allocated to institutional investors, while 5% (16.5 mn shares) will be allocated to retail investors.

PLUS- United Bank’s IPO hits the road: CI Capital — the firm managing United Bank’s initial public offering — will this week kick off its glocal roadshow for a 30% stake of the lender going public, Asharq Business reports, citing unnamed financial market sources. The promotional tour is set to make stops in Saudi Arabia, Dubai, London, and South Africa to attract investors to the IPO.

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