Egypt has taken a significant step in reviving its initial public offering (IPO) market, launching the sale of a 30% stake in United Bank worth up to $110 million. This marks the country's first IPO in three years, as it advances its privatization agenda backed by the International Monetary Fund (IMF).

The sale is structured in two phases, with a private placement of 313.5 million shares and 5% available to the public. United Bank, nearly fully owned by Egypt's central bank, is offering 330 million shares at a maximum price of 16.5 Egyptian pounds per share.

This IPO is part of a broader government plan to privatize 32 state-owned assets across sectors like banking, energy, and real estate. The listing is expected to draw significant investor interest, strengthening the bank's capital base amid intense competition within the sector.