{"id":554202,"date":"2021-12-23T03:51:14","date_gmt":"2021-12-23T03:51:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/"},"modified":"2021-12-23T03:51:14","modified_gmt":"2021-12-23T03:51:14","slug":"ghazl-el-mahalla-kicks-off-institutional-subscription","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/","title":{"rendered":"Ghazl el Mahalla kicks off institutional subscription"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The institutional subscription for Ghazl El Mahalla\u2019s micro-IPO will be completed <\/strong><strong>by the end of the week<\/strong>, the Public Enterprises Ministry said in a <a href=\"https:\/\/ent.news\/2021\/12\/Ghazl-El-Mahalla-institutional-offering.pdf\">statement (pdf)<\/a>. Bookrunner Prime Holding is expected to finish the placement of at least EGP 37 mn worth of shares with institutional investors this week, while the prospectus for the EGP 98 mn public offering is currently being drawn up.<\/p>\n<p><strong>We\u2019re still waiting on the timeline for the retail subscription:<\/strong> The ministry has said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53a69988-45fd-4278-8428-3c06c8fdc4f7\">it wants to complete the IPO<\/a>, which will see Ghazl El Mahalla list at least two-thirds of its shares on the EGX and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63b2e2c2-100f-46b8-80b7-d94bb2c71f1c\">raise EGP 135 mn<\/a>, before 2022 rolls around. The company expects to hit a market cap of EGP 200 mn by the time it lists on the bourse.<\/p>\n<p><strong>This marks the Arab world\u2019s first football club IPO,<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-22\/arab-world-s-first-soccer-team-to-go-public-seeks-8-6-million?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reported, which sets the foundation for other clubs to follow suit. Football giant Al Ahly has already <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e353e401-9cdc-41c4-b421-29d9f5246904\">expressed interest<\/a> in listing as much as 49% of the club.<\/p>\n<p><strong>Recent IPOs have breathed new life into the state privatization program:<\/strong> e-Finance\u2019s success on the EGX has stirred a series of planned listings for state-owned companies, with the latest being <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/352cb619-1060-47c5-8a48-c0f5d2e91ca3\">Abu Qir\u2019s sale of an additional 10% of its shares<\/a> earlier this month, which saw it raise EGP 2.25 bn. Four more state-owned companies could hit the bourse before the end of the current fiscal year in June, Public Enterprises Minister Hisham Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b90b5254-2ce1-47f0-b1a9-f1082077ef28\">said previously<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The institutional subscription for Ghazl El Mahalla\u2019s micro-IPO will be completed by the end of the week, the Public Enterprises Ministry said in a statement (pdf). Bookrunner Prime Holding is expected to finish the placement of at least EGP 37 mn worth of shares with institutional investors this week, while the prospectus for the EGP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":554203,"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":[7274],"tags":[88,68,72,9093,78,79,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-egx","tag-enterpriseam","tag-ghazl-el-mahalla","tag-ipo-watch","tag-public-enterprises-ministry","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"0017ffe7-0dfd-4f5c-b9d9-3cb40439770f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/471.jpg","photo_position":"above","related_issue":[554190],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ghazl el Mahalla kicks off institutional subscription - 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\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghazl el Mahalla kicks off institutional subscription\" \/>\n<meta property=\"og:description\" content=\"The institutional subscription for Ghazl El Mahalla\u2019s micro-IPO will be completed by the end of the week, the Public Enterprises Ministry said in a statement (pdf). Bookrunner Prime Holding is expected to finish the placement of at least EGP 37 mn worth of shares with institutional investors this week, while the prospectus for the EGP [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-23T03:51:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/471.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Ghazl el Mahalla kicks off institutional subscription\",\"datePublished\":\"2021-12-23T03:51:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/\"},\"wordCount\":246,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/471.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt watch\",\"EGX\",\"EnterpriseAM\",\"Ghazl El Mahalla\",\"IPO watch\",\"Public Enterprises Ministry\",\"state privatization program\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/ghazl-el-mahalla-kicks-off-institutional-subscription\/\",\"name\":\"Ghazl el Mahalla kicks off institutional subscription - 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Misr Ins. Holding, Ghazl El Mahalla Spinning and Weaving, Kuwaiti and Egyptian investment institutions, two companies from Saudi Arabia, and \u201csome high net-worth individuals\u201d all received allocations in the EGP 37 mn institutional component of Ghazl El Mahalla\u2019s upcoming IPO,\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567896,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/10\/ghazl-el-mahalla-could-become-the-first-sports-club-to-hit-the-egx-in-1q2021\/","url_meta":{"origin":554202,"position":1},"title":"Ghazl El Mahalla could become the first sports club to hit the EGX in 1Q2021","author":"enterpriseam admin","date":"10 December 2020","format":false,"excerpt":"Ghazl El Mahalla could sell shares in an initial public offering on the EGX as soon as 1Q2021, Public Enterprises Minister Hisham Tawfik said, according to Al Mal. A joint-stock company the ministry set up earlier this year to incorporate the state-owned football club will target EGP 100 mn through\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547663,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/ghazl-el-mahalla-ipo-could-be-extended\/","url_meta":{"origin":554202,"position":2},"title":"Ghazl El Mahalla IPO could be extended","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"Subscription to the retail offering in Ghazl El Mahalla\u2019s IPO has been extended until 13 August due to weak investor demand for the football club\u2019s shares, Al Borsa reports. 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 &quot;IPO&quot;","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":548593,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/15\/ghazl-el-mahalla-has-another-two-weeks-to-land-its-micro-ipo\/","url_meta":{"origin":554202,"position":3},"title":"Ghazl El Mahalla has another two weeks to land its micro-IPO","author":"enterpriseam admin","date":"15 August 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;IPO&quot;","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\/246.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":554202,"position":4},"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 &quot;IPO&quot;","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":559999,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/ghazl-el-mahalla-planning-a-summer-ipo\/","url_meta":{"origin":554202,"position":5},"title":"Ghazl El Mahalla planning a summer IPO?","author":"enterpriseam admin","date":"11 February 2021","format":false,"excerpt":"Ghazl El Mahalla FC could move ahead with its IPO on the EGX around the summertime after closing in on an agreement with Prime Securities to manage the offering, Public Enterprises Minister Hisham Tawfik told Masrawy. The football club is looking to list around two-thirds of its shares and reel\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/184.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554202","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=554202"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554202\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/554190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/554203"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=554202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=554202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=554202"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=554202"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=554202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}