{"id":556475,"date":"2021-10-27T04:18:45","date_gmt":"2021-10-27T04:18:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/27\/ghazl-el-mahalla-fc-lines-up-egxs-second-ipo-this-quarter\/"},"modified":"2021-10-27T04:18:45","modified_gmt":"2021-10-27T04:18:45","slug":"ghazl-el-mahalla-fc-lines-up-egxs-second-ipo-this-quarter","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/27\/ghazl-el-mahalla-fc-lines-up-egxs-second-ipo-this-quarter\/","title":{"rendered":"Ghazl El Mahalla FC lines up EGX\u2019s second IPO this quarter"},"content":{"rendered":"

<\/a> Two IPOs on the EGX in as many months?<\/strong> State-owned sports club Ghazl El Mahalla could debut on the EGX in November, a month after fintech firm e-Finance completed the exchange\u2019s largest IPO in six years<\/a>, according to Masrawy<\/a>, citing the head of bookrunner Prime Holding. Prime\u2019s investment banking arm has begun promoting the share sale to institutional players and hopes to initiate the offering on the exchange at the beginning of next month, CEO Mohamed Maher told the newspaper, without providing further information. Enterprise was unable to reach Prime or club owner El Mahalla Spinning and Weaving Company for comment.<\/p>\n

Let\u2019s keep size in context:<\/strong> The sale is expected to raise EGP 135 mn<\/a>, which would be done via newly-issued shares that would see up to two-thirds of the club listed on the exchange. Prime will place EGP 37 mn worth of shares in a sale to institutional investors, while another EGP 98 mn will be earmarked for sale to individual retail investors, Maher had told us over the summer. E-Finance\u2019s EGP 5.8 mn (USD 370 mn) IPO was the largest the market has seen since 2015; that\u2019s when TMG raised about EGP 4.5 bn (or about USD 850 mn given the exchange rate at the time).<\/p>\n

The biggest-ever IPO in Egypt?<\/strong> That would be Telecom Egypt, which raised the equivalent of nearly USD 900 mn in 2005.<\/p>\n

Ghazl El Mahalla FC is spinning off from its parent company<\/strong> (the state-owned textiles business of the same name) and will be listed as a new company with initial capital of EGP 200 mn. The remaining capital not issued in freefloat shares will come in the form of an in-kind contribution from Spinning and Weaving to give it a stake.<\/p>\n

e-Finance\u2019s success on the EGX has given energy to the state privatization program. <\/strong>The state-owned firm\u2019s listing this month encouraged Ghazl El Mahalla to go ahead with its own IPO, Maher told Masrawy. E-Finance met with substantial institutional and retail appetite. Four more state-owned companies could hit the bourse before the end of the current fiscal year in June, Public Enterprise Minister Hisham Tawfik said previously<\/a>. Aside from the football club, Banque du Caire is a candidate, after its IPO was postponed<\/a> in the wake of covid-induced market turmoil. There are also offerings in the pipeline for several large government-owned firms beyond that date, Tawfik said.<\/p>\n

But the real question is which private-sector companies are in the funnel to go public.<\/strong> The parent company of health foods brand Abu Auf<\/a><\/strong> said earlier this fall it will list in the first half of 2022, with EFG Hermes in the driver\u2019s seat. Macro Pharma<\/a><\/strong> also has plans to list, having made a last-minute u-turn on its IPO in April and later hired EFG Hermes to quarterback the sale. And non-bank financial services player Ebtikar<\/a><\/strong> has also said it plans to go public.<\/p>\n

Okay, but is Ghazl El Mahalla even a good football club? <\/strong>After being relegated for several years, Ghazl El Mahalla made it back into the Egyptian Premier League last season and finished the year in the lower-middle of the table. They play their first match of the new season (which got underway on Monday) tomorrow against Al Masry. <\/strong>Ghazl El Mahalla won the league once, back in 1973, and remain a team with a large and loyal local fan base. The IPO would make it Mahalla the first Egyptian football club to go public.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two IPOs on the EGX in as many months? State-owned sports club Ghazl El Mahalla could debut on the EGX in November, a month after fintech firm e-Finance completed the exchange\u2019s largest IPO in six years, according to Masrawy, citing the head of bookrunner Prime Holding. Prime\u2019s investment banking arm has begun promoting the share […]<\/p>\n","protected":false},"author":1,"featured_media":556476,"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":[68,72,9093,78,81,162,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-egx","tag-enterpriseam","tag-ghazl-el-mahalla","tag-ipo-watch","tag-privatization-watch","tag-sports","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"65a4c41c-1aae-494a-9c5b-be28022cbb3d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/288.jpg","photo_position":"above","related_issue":[556466],"teaser":"","voice_url":""},"yoast_head":"\nGhazl El Mahalla FC lines up EGX\u2019s second IPO this quarter - 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\/10\/27\/ghazl-el-mahalla-fc-lines-up-egxs-second-ipo-this-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghazl El Mahalla FC lines up EGX\u2019s second IPO this quarter\" \/>\n<meta property=\"og:description\" content=\"Two IPOs on the EGX in as many months? 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Bookrunner Prime Holding is expected to finish the placement of at least EGP 37 mn worth of shares with institutional investors this week, while\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/471.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":556475,"position":2},"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":546654,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/ghazl-el-mahalla-could-wrap-its-ipo-in-june\/","url_meta":{"origin":556475,"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":543810,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/20\/a-spring-debut-on-the-egx-planned-for-ghazl-el-mahalla\/","url_meta":{"origin":556475,"position":4},"title":"A spring debut on the EGX planned for Ghazl El Mahalla","author":"enterpriseam admin","date":"20 February 2022","format":false,"excerpt":"Ghazl El Mahalla FC will debut on the EGX at the beginning of April, BloombergAsharq quotes Mohamed Maher, head of bookrunner Prime Holding, as saying. The IPO prospectus will be released \u201cwithin days\u201d and the subscription period will run from the end of February until mid-March, Maher said.Refresher: Ghazl El\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\/2\/271.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":556475,"position":5},"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 "IPO"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556475","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=556475"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556475\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556476"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556475"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556475"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}