{"id":555598,"date":"2021-11-21T03:46:32","date_gmt":"2021-11-21T03:46:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/21\/paint-the-egx-a-different-shade-of-red\/"},"modified":"2021-11-21T03:46:32","modified_gmt":"2021-11-21T03:46:32","slug":"paint-the-egx-a-different-shade-of-red","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/21\/paint-the-egx-a-different-shade-of-red\/","title":{"rendered":"Paint the EGX (a different shade of) red"},"content":{"rendered":"

<\/a> Al Ahly could offer almost half the club in an IPO on the EGX<\/strong>, Chairman Yassin Mansour told Al Arabiya<\/a> in a story published on Friday. The club\u2019s board are considering listing a 49% stake on the exchange, he told the UAE-based outlet, without disclosing a timeline for the sale.<\/p>\n

Shares will be sold in the newly-formed Al Ahly Football Company <\/strong>(AAFC), which according to board member Mohamed El Damaty, will hold all of the club\u2019s football-related assets by June 2022. In an interview with Al Mal TV last week (watch, runtime: 55:46<\/a>), El Damaty said the company will be responsible for managing and organizing all the club\u2019s professional football activities including academies, local and international competitions, marketing activities, merchandise, advertising, and player transfers. AAFC will be headed by Mansour while former general-secretary of the Confederation of African Football Mustafa Murad Fahmy will act as vice president.<\/p>\n

This comes within the club\u2019s long-term strategy, which includes establishing three subsidiaries: <\/strong>The Al Ahly 2050 Vision aims to create new sources of income and capitalize on the club\u2019s financial resources while keeping up with developments in the sports industry, according to the club\u2019s website<\/a>. Other than AAFC, Al Ahly will also establish Al Ahly Stadium Company to build and manage the club\u2019s new Olympic city and stadium as well as Al Ahly Tourism Services Company to manage the club\u2019s traveling services for staff, players, and fans.<\/p>\n

Al Ahly aren\u2019t the only sports club thinking of going public:<\/strong> State-owned club Ghazl<\/a>El Mahalla<\/a> is planning on selling two-thirds of its shares on the bourse in a small offering projected to bring in EGP 135 mn. Bookrunner Prime Holding said last month that the sale would go ahead in November but with less than two weeks left in the month we still haven\u2019t heard anything. A couple of years ago<\/a>, the EGX was also reportedly working with Misr El Makasa, FC Masr, and Wadi Degla SC, to prepare for potential listings, but it\u2019s been radio silence since.<\/p>\n

It\u2019s all thanks to the 2017 <\/strong>Sports Act<\/a><\/strong>, which loosened the state\u2019s grip on private sports clubs, allowing them to have more authority over financial affairs and operate as an institutionalized company.<\/p>\n","protected":false},"excerpt":{"rendered":"

Al Ahly could offer almost half the club in an IPO on the EGX, Chairman Yassin Mansour told Al Arabiya in a story published on Friday. The club\u2019s board are considering listing a 49% stake on the exchange, he told the UAE-based outlet, without disclosing a timeline for the sale. Shares will be sold in […]<\/p>\n","protected":false},"author":1,"featured_media":555599,"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":[721,68,72,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-al-ahly","tag-egx","tag-enterpriseam","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"e353e401-9cdc-41c4-b421-29d9f5246904","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/520.jpg","photo_position":"above","related_issue":[555590],"teaser":"","voice_url":""},"yoast_head":"\nPaint the EGX (a different shade of) red - 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\/11\/21\/paint-the-egx-a-different-shade-of-red\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paint the EGX (a different shade of) red\" \/>\n<meta property=\"og:description\" content=\"Al Ahly could offer almost half the club in an IPO on the EGX, Chairman Yassin Mansour told Al Arabiya in a story published on Friday. 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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 "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\/1\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639326,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/26\/al-ahly-sabbour-planning-ipo-within-the-year\/","url_meta":{"origin":555598,"position":3},"title":"Al Ahly Sabbour planning IPO within the year","author":"enterpriseam admin","date":"26 October 2017","format":false,"excerpt":"IPO WATCH- Al Ahly for Real Estate Development Sabbour is planning to list shares on the EGX within a year, company managing director Ahmed Sabbour tells Al Borsa. The company is currently deciding between three potential global coordinators for the transaction, he added, stopping short of naming names. 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