The IPO, which is the first of its kind in Egypt and the Middle East & North Africa (MENA) region, is expected to increase the capital of Ghazl El Mahallah Football Company from EGP98 to 200 million.
Ghazl El Mahallah Sporting Club made its Initial Public Offering (IPO) on the Cairo Stock Exchange on Sunday, June 12, becoming the first soccer club to get listed on the Egyptian stock market and in Africa as a whole.
The IPO, which was led by Prime Capital, will increase the capital of Ghazl El Mahallah Football Company from EGP98 million (US$5.19 million) to EGP200 million (US$10.69 million), once all the 98,000 new shares are sold at an IPO price of EGP1.02 each (with 1,000 shares minimum and two million maximum subscription requirements).
Ghazl El Mahallah Sporting Club was founded in 1936 in El Mahalla El-Kubra (about 118 km north of Cairo). The club has a large fan base and is one of the six Egyptian soccer giants to have won the national championship.
However, its commercial entity, Ghazl El Mahallah Football Company was established in January 2021. It is the first Egyptian joint-stock company specialized in the soccer business. It was previously majority-owned by the textile giant Misr Spinning and Weaving Company Al-Mahalla. Its capital was increased by EGP37 million in December 2021, in a private placement involving Egyptian and Arab investors.
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...