The Clap Prime Capital, Ghazl El-Mahalla’s IPO manager, stated that it will announce the prospectus of the club’s offering in early May 2022.
The deets The investment bank added that it’s currently working on completing FRA procedures, & will focus on listing procedures later in May 2022.
Backstory The football club decided to offer 135 million shares, representing a 66% stake. The offering has been divided into 37 million shares that were covered in a private placement for institutional investors & 98 million shares will be offered to individual investors in the public offering.
The most prominent companies that covered the private placement are Misr Insurance, the parent company (Ghazl Al-Mahalla), and several Kuwaiti and Saudi institutions.