Table of Contents
Who is the United Bank of Egypt?
The United Bank, established and owned by the Central Bank of Egypt (CBE), provides banking services to businesses and individuals. It specializes in both conventional and Sharia-compliant services.
What is happening?
The Central Bank of Egypt, which owns 99.9% of the United Bank’s shares, is offering 30% of its shares (330,000,000 shares) for sale through an IPO. This will transform the United Bank into a publicly traded company on the Egyptian Exchange (EGX).
You can participate in this IPO through the Thndr app.
This IPO is divided into:
- Public Offering: 5% of the IPO.
- Private Offering: 95% of the IPO.
For more details on the private offering, visit this page.
Public Offering Details
*The share price shown is determined by an independent financial expert and is included in the IPO prospectus as a guide for investors.
Stabilization Fund
The public offering is supported by a stabilization fund covering 100% of the offering during the first 30 days of trading.
What is a stabilization fund?
During the first 30 days of trading, if the stock’s performance does not meet your expectations, you can return your shares at the purchase price through the stabilization fund.
This means that if the stock price falls below the IPO price within the first 30 days of trading, you can recover your investment value.
Important Notes:
- You can subscribe with up to 4 times the amount available in your wallet.
- 25% of your order value will be held until the order is executed.
How do I participate?
On the IPO start date:
- Open the Thndr app.
- Go to the Explore tab.
- Search for “UBEE” or “United Bank” to access the IPO page.
- Place your order.
- Your order will remain pending until the IPO end date.
What is Oversubscription?
If demand for shares exceeds supply, the IPO becomes oversubscribed. This means each investor will receive only a portion of the shares they requested.
Example:
If you subscribe for 10,000 shares and the IPO is oversubscribed 10x:
- Shares in your order: 10,000.
- Oversubscription ratio: 10x.
- Your allocation: 10,000 ÷ 10 = 1,000 shares.
United Bank (UBEE) First day of Trading
The Egyptian exchange announced that Tuesday, December 10th will be the first day of trading for UBEE.
United Bank has been designated as part of the moderate activity market – click here for more on EGX market segmentation.
During the trading session:
– The opening price has been set at EGP 13.85 and there will be a 40% price limit on the first day of trading.
– The stock will be T+0 tradable.
– You will be able to place limit buy and sell orders
– After a closing price is determined on the first day of trading, UBEE stock will follow standard price limit rules of the moderate activity market outlined here.Stabilization Fund:
To use the stabilization fund, you must own the shares through the public offering (before the first trading day).
Any new shares you buy or sell on the market will not be protected by the stabilization fund.
If the share price falls below the IPO price, Thndr will send you an email outlining the process to use the stabilization fund.
