The Clap
Public subscription for Ghazl El-Mahalla IPO will begin Sunday 12 June, 2022, until 1 July, 2022.
Private placement
The private placemenet amounting to EGP 37 million has already been compeleted. Misr Insurance led the placement with EGP 15 million.
Public offering
The public offering’s size stands at EGP 98 million. Investors will be able to subscribe for a price of EGP 1/share + EGP 0.02 in issuance fees. The minimum subscription amount is 1,000 shares and the maximum is 2 million shares.
In the event that demand matches or exceeds the quantity offered, the public offering shall be divided into two tranches:
The first tranche: Completely fulfill subscriptions up to 25,000 shares per subscriber.
The second tranche: After completing the first tranche, the remaining quantity will be allocated to orders exceeding 25 thousand shares per subscriber.
It’s worth noting that this offering does not include a stablization fund.
Where will the proceeds from the offering go?
The offering is a 100% primary offering, meaning the amount will be injected in the company for future growth plans. The proceeds from the offering will be directed to 1) Developing the main stadium and the systems inside the stadium 2) Developing the youth sector stadiums and training grounds 3) Developing the broadcasting platform.
