{"id":548593,"date":"2022-08-15T04:00:35","date_gmt":"2022-08-15T04:00:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/15\/ghazl-el-mahalla-has-another-two-weeks-to-land-its-micro-ipo\/"},"modified":"2022-08-15T04:00:35","modified_gmt":"2022-08-15T04:00:35","slug":"ghazl-el-mahalla-has-another-two-weeks-to-land-its-micro-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/15\/ghazl-el-mahalla-has-another-two-weeks-to-land-its-micro-ipo\/","title":{"rendered":"Ghazl El Mahalla has another two weeks to land its micro-IPO"},"content":{"rendered":"

<\/a> The retail component of Ghazl El Mahalla\u2019s IPO has been extended for <\/strong>another two week<\/strong>s until 28 August <\/strong>due to weak investor demand, according to an EGX<\/a>bulletin<\/a>. Subscription was supposed to close yesterday, but the football club has so far only received bids for around 22% of the shares allocated to the public, Mohamed Maher, CEO of bookrunner Prime Holding, told Masrawy<\/a> yesterday. Maher blamed poor market conditions for the slow uptake, which has already seen the deadline extended once<\/a> this summer.<\/p>\n

Where things stand:<\/strong> The club has allocated 98 mn shares to the retail component of the IPO and is selling them for EGP 1.02 apiece. It has raised just EGP 22 mn from between 600 and 700 investors since subscription opened<\/a> almost two months ago, the news outlet reported Maher as saying.<\/p>\n

This is the <\/strong>second time<\/a><\/strong> the deadline to close the retail component of the offering has <\/strong>been pushed.<\/strong> The football club extended the offering by six weeks at the beginning of July after receiving bids for less than 10% of the shares on offer in the original three-week subscription period. It also opened up the public offering to institutional buyers by allowing investors to purchase up to 15 mn shares, up from an original cap of 2 mn.<\/p>\n

REMEMBER- <\/strong><\/p>\n

#1- It\u2019s a tough time for new listings. <\/strong>The EGX 30 has fallen more than 16% this year as global markets struggle due to the conflict in the Ukraine, inflationary pressure, rising interest rates, and a deep correction in many high-profile western markets.<\/p>\n

#2- This share sale is tiny<\/strong> and potentially consequential only in the sense that it might convince other clubs (we\u2019re looking at you, Al Ahly<\/a>) to go public.<\/p>\n

BACKGROUND- Ghazl El Mahalla is offering a 67.5% stake in its IPO<\/strong>, which is expected to raise EGP 135 mn. The club raised EGP 37 mn<\/a> during the institutional component of the offering in November.<\/p>\n","protected":false},"excerpt":{"rendered":"

The retail component of Ghazl El Mahalla\u2019s IPO has been extended for another two weeks until 28 August due to weak investor demand, according to an EGXbulletin. Subscription was supposed to close yesterday, but the football club has so far only received bids for around 22% of the shares allocated to the public, Mohamed Maher, […]<\/p>\n","protected":false},"author":1,"featured_media":548594,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7224],"tags":[102,68,72,9093,78,976],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-egx","tag-enterpriseam","tag-ghazl-el-mahalla","tag-ipo-watch","tag-prime-holding","wpautop","entry"],"acf":{"mongo_id":"be4dfabc-04c6-46bf-ac9a-5fc1f879312e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/246.jpg","photo_position":"above","related_issue":[548585],"teaser":"","voice_url":""},"yoast_head":"\nGhazl El Mahalla has another two weeks to land its micro-IPO - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/15\/ghazl-el-mahalla-has-another-two-weeks-to-land-its-micro-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghazl El Mahalla has another two weeks to land its micro-IPO\" \/>\n<meta property=\"og:description\" content=\"The retail component of Ghazl El Mahalla\u2019s IPO has been extended for another two weeks until 28 August due to weak investor demand, according to an EGXbulletin. 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The club was originally expected to wrap up the retail component of the IPO on 1 July but has given investors\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/82.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562874,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/ghazl-el-mahalla-fc-could-move-ahead-with-its-ipo-in-2-months\/","url_meta":{"origin":548593,"position":1},"title":"Ghazl El Mahalla FC could move ahead with its IPO in 2 months","author":"enterpriseam admin","date":"9 June 2021","format":false,"excerpt":"Ghazl El Mahalla\u2019s IPO could go to market in the next two months as the club finalizes procedures with the Financial Regulatory Authority (FRA) ahead of the sale, according to Prime Securities, which is quarterbacking the transaction, Al Mal reports.The football club has priced its IPO at EGP 1 per\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/132.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548961,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/","url_meta":{"origin":548593,"position":2},"title":"Ghazl El Mahalla\u2019s micro-IPO misfires in extra time","author":"enterpriseam admin","date":"29 August 2022","format":false,"excerpt":"Retail investors put in orders for just 18% of the shares made available to the public in Ghazl El Mahalla FC\u2019s mico-IPO when the subscription period ended yesterday after multiple extensions. That means the football club will not be making its debut on the EGX as planned. By market close\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/425.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546654,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/ghazl-el-mahalla-could-wrap-its-ipo-in-june\/","url_meta":{"origin":548593,"position":3},"title":"Ghazl El Mahalla could wrap its IPO in June","author":"enterpriseam admin","date":"24 May 2022","format":false,"excerpt":"Ghazl El Mahalla football club\u2019s public subscription notice (PSN) will be out in a few days, Mohamed Maher, head of bookrunner Prime Holding, confirmed to Enterprise. The EGP 98 mn public offering to retail investors has received approval from the Financial Regulatory Authority (FRA) for the offering, which Maher said\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/314.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555066,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/misr-ins-wants-a-chunk-of-ghazl-el-mahalla-fc-ahead-of-ipo\/","url_meta":{"origin":548593,"position":4},"title":"Misr Ins. wants a chunk of Ghazl El Mahalla FC ahead of IPO","author":"enterpriseam admin","date":"1 November 2021","format":false,"excerpt":"Misr Ins. Holding has bid for 40% of the shares that Ghazl El Mahalla Football Club will offer to institutional investors in its upcoming IPO, according to statements made by Public Enterprises Minister Hisham Tawfik published in Hapi Journal (pdf) yesterday. The state-owned giant has subscribed to EGP 15 mn\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566829,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/egypts-first-football-listing-worth-egp-200-mn\/","url_meta":{"origin":548593,"position":5},"title":"Egypt\u2019s first football listing worth EGP 200 mn?","author":"enterpriseam admin","date":"15 July 2021","format":false,"excerpt":"Ghazl El Mahalla FC is looking to make an EGP 200 mn EGX debut, Prime Holding CEO Mohamed Maher tells us. Prime is quarterbacking the company\u2019s listing on the bourse.Wait, how can the company know the value of the transaction before it even gets the green light for the IPO?\u2026","rel":"","context":"In "SPEED ROUND: IPO WATCH"","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548593"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548593\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548594"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548593"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548593"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}