{"id":656029,"date":"2024-11-27T00:00:00","date_gmt":"2024-11-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/27\/united-bank-set-to-raise-egp-4-6-bn-as-retail-placement-kicks-off\/"},"modified":"2024-11-27T00:00:00","modified_gmt":"2024-11-27T00:00:00","slug":"united-bank-set-to-raise-egp-4-6-bn-as-retail-placement-kicks-off","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/27\/united-bank-set-to-raise-egp-4-6-bn-as-retail-placement-kicks-off\/","title":{"rendered":"United Bank set to raise EGP 4.6 bn as retail placement kicks off"},"content":{"rendered":"

Good afternoon all you wonderful people, and happy Wednesday. <\/strong>The new cycle has finally revved up for the week \u2014 and we\u2019ve got all you need to know below.<\/p>\n

THE BIG STORY TODAY-<\/p>\n

United Bank set to raise<\/strong> EGP 4.6 bn i<\/strong>n EGX share offering: <\/strong>United Bank is set to raise some EGP 4.6 bn from its 30% stake sale on the EGX after the private placement saw the bank\u2019s final share price<\/a> set at EGP 13.85, according to an EGX bulletin (pdf)<\/a>. The final share price is in the mid-range of the EGP 12.70-15.60 range set by the lender and values the bank at EGP 15.2 bn by our math. <\/p>\n

High demand: <\/strong>The bank\u2019s private placement \u2014 which included 313.5 mn of the 330 mn shares on offer \u2014 concluded on Monday, with the offering 6x oversubscribed. The bank\u2019s public offering, which includes 16.5 mn shares, began today and will conclude on 3 December. <\/p>\n

PLUS- El Sisi meets with Jordan\u2019s King Abdullah to discuss regional developments:<\/strong> Jordan\u2019s King Abdullah met with President Abdel Fattah El Sisi after arriving in Cairo this morning, with discussions between the two leaders centering around efforts to coordinate positions on ongoing developments in the Palestinian territories, according to an Ittihadiya statement<\/a>. The meeting comes ahead of a Gaza humanitarian response conference set to be hosted in Cairo on 2 December.<\/p>\n

El Sisi also held a separate meeting with Qatari PM Sheikh Mohammed bin Abdulrahman <\/strong>Al Thani, <\/strong>which saw the two statesmen discuss expanding political, economic, and investment ties, as well as ongoing efforts to provide humanitarian aid and negotiate a ceasefire in Gaza, according to a separate Ittihadiya statement<\/a>.<\/p>\n

THE BIG STORY ABROAD<\/p>\n

Israel-Hezbollah ceasefire holds in first few hours:<\/strong> The US- and France-brokered ceasefire agreement between Israel and Lebanon\u2019s Hezbollah that went into effect at 4am this morning local time has managed to hold through the afternoon, as displaced Lebanese citizens cautiously begin preparing to return to their homes. The Lebanese government, which is set to take control of the southern border areas vacated by Israeli troops over the next 60 days, has urged citizens to wait for official clearance before returning to bombed out towns. Israeli PM Benjamin Netanyahu warned that any Hezbollah violation would result in retaliation. (Reuters<\/a> | Financial Times<\/a>) <\/p>\n

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