Egypt’s United Bank has announced the opening of the private placement market for registering buy and sell orders on its shares on the Egyptian Exchange (EGX) starting tomorrow, Wednesday, until 25 November. According to a statement from the bank, the public offering will commence on 27 November and run until 3 December.

Egypt's central bank began the sale of 30% of United Bank on Wednesday, marking only the second privatisation of a state-owned Egyptian lender in four years after a gap of more than a decade. United Bank said in a statement that the sale of 330 million shares could raise up to 5.