Ghazl El Mahalla Sporting Club (Ghazl El Mahalla SC) closed an agreement with Prime Holding (PRMH) to manage its expected initial public offering (IPO) around the summertime, Masrawy cited Public Enterprises Minister Hisham Tawfik.
The sporting club will offer two-third of its shares on the Egyptian Exchange, with expected subscriptions of EGP 100 million.
Earlier, Tawfik announced that the club will go for IPO during the first quarter of 2021.
Prime Holding suffered a consolidated net loss of EGP 17.08 million during the first nine months of 2020, versus EGP 4.29 million in profit in the same period of 2019.
The listed company is engaged in the provision of several investments and financial services for corporations, institutions, government entities, and individuals within Egypt and abroad.
