The Clap
Ghazl El Mahallah’s board of directors is looking to have another go at an IPO in the 2023/2024 fiscal year.
Backstory
Ghazl El Mahallah looked to IPO a few months ago but the retail offering was undersubscribed, & the IPO didn’t go through.
Deets
The board of directors would rather wait two years to file for an IPO again, than scrap the retail offering & offer the stake to a strategic investor.
You should know
To IPO, companies must hand in two years’ worth of historical financials, or have at least 1,000 shareholders.
So what
The club’s rationale behind this is to give its fans the chance to subscribe.
Now what
The two fiscal years will end by June 2023.
