The Clap
Prime Holding (PRMH), the company in charge of Ghazl El Mahallah’s IPO, is looking for a potential strategic investor to increase the company’s capital to EGP 200 million, in order to be listed on the EGX.
The Deets
Mohamed Maher, CEO of Prime Holding, said that Ghazl El Mahallah will increase its capital either through a strategic investor or by waiting for financial statements to be issued for at least two years, noting that the company was established in January 2021.
Background
The subscription period for Ghazl El-Mahalla ended covering only 17.9%.
Strategic Investors
According to Maher, the company received offers from foreign investors who were interested in increasing the company’s capital. Still, Ghazl El Mahallah opted to raise funds through listing on the EGX.
Prime look at plan B regarding Ghazl El Mahallah 🧐
