EFSA approves MM Group listing on the EGX

In other news from the capital markets, the Egyptian Financial Supervisory Authority issued a non-objection to MM Group’s listing on the EGX, Al Mal reports. Final pricing on the transactions will be set after the international offer closes on Tuesday, 4 April, three days before the Egyptian public offering closes on Thursday, 6 April. MM Group is planning to list 30% of its shares 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. Beltone Financial is leading the transaction, Zaki Hashem & Partners are local counsel, and BDO is acting as the independent legal advisor.