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Ghazl El Mahalla of Egypt puts off its listing to April

The offering is set to raise 135 million Egyptian pounds ($8.6 million), or 60 percent of the club's capital.
By TRENDS Desk
February 18, 2022 9:03 pm
  • The prospectus, according to Mohamed Maher, from investment bank Prime Holding, for the initial public offering on the Egyptian bourse will be completed within days
  • The sporting club had earlier closed a private placement of 37 million pounds ahead of the public offering

The Egyptian football club Ghazl El Mahalla has put off its listing on the stock exchange to April. The listing was originally to happen in February.

The prospectus, according to Mohamed Maher, from investment bank Prime Holding, for the initial public offering on the Egyptian bourse will be completed within days.

The offering is set to raise 135 million Egyptian pounds ($8.6 million), or 60 percent of the club’s capital.

He added that the book-building process will start by the end of February until mid-March, aiming for its shares to start trading in early April.

The sporting club had earlier closed a private placement of 37 million pounds ahead of the public offering.

Owned by the Egyptian El Mahalla Spinning and Weaving Co, Ghazl El Mahalla is one of Egypt’s biggest football teams.

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