MM Group filed its public subscription notice for a local offering yesterday, announcing it will offer 118.8 mn shares, representing a 30% stake in the company on the EGX for a maximum price of EGP 6.06 per share. 85% of the offering, representing some 100.98 mn shares, will be earmarked for an institutional offering, while the remaining 17.82 mn shares will be offered to retail investors in Egypt. The final pricing of the offering will be announced on Tuesday, 4 April and the subscription period will close on Thursday, 6 April. MM Group’s operations focus on four main business segments: Luxury cars, tractors and pipelines, retail and distribution services for telecom providers, and distributing electrical appliances and electronics. The company made a stand-alone net profit before tax of EGP 253.26 mn in the first nine months of 2016. Beltone Financial is managing the offering, Zaki Hashem & Partners are local counsel, and BDO is acting as the independent legal advisor. You can find here MM Group’s financial statements, AGM and EGM minutes, and fair value assessment.

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