Thndr Claps » EGY Claps » EGX 🔔 » Ghazl El Mahallah’s IPO ends in under subscription ⚽️
The ClapGhazl El Mahallah’s IPO covered only 17.9%, representing 17.6 million shares of the intended issuance.What Will HappenDue to the under subscription, subscribers have the right to demand a refund of their money within seven days after the subscription door closes.If a subscriber did not ask for a refund within seven days, the funds will be transferred to the company’s account.BackgroundGhazl El Mahalla aimed to raise EGP 98 million distributed among 98 million shares, to raise the company’s capital to EGP 200 million.
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