The Clap
Al Masry SC is considering establishing a company and listing it on the EGX in order to raise funds through the subscriptions of the club’s fans.
The Deets
The company plans to cover 80% – 90% of the offered stake through private placement.
Al Masry SC is trying to replicate what Ghazl El-Mahalla did, as they managed to raise EGP 37 million through private placement.
Negotiations with investment banks are now in place to choose the manager of the offering, which will most likely be a medium-sized investment bank to suit the size of the targeted offering.
Why this Matters
Prime Holding, the company responsible for Ghazl El Mahalla’s IPO, received offers from two clubs to prepare them for listing on the EGX.
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