The Ministry of Public Business of the Arab Republic of Egypt announced that the public subscription for Ghazl El-Mahalla Football Company (the first football company listed on the Egyptian Stock Exchange) will open next Sunday.
The public offer subscription period runs until early next July. The subscription share price is £1.02 and Prime Capital will promote and cover the subscriptions (offer manager). The subscription means that the public and ordinary investors can buy the company’s shares in several stages implemented by brokerage firms.
The Ghazl El-Mahalla Football Company subscription investment represents a good opportunity as it is the first football company of its kind to be listed on the Egyptian Stock Exchange and the shares will be listed once the public offering of the outstanding shares is completed, the ministry said. The ministry said the business plan shows good cash flow for the company and an average expected return of 21.5%, as the main factor influencing the share price is the expected successful financial performance of Ghazl Al-Mahalla football company. “In light of Ghazl El Mahalla’s longstanding reputation as a club with a wide fan base and one of the six Egyptian football giants to win the General League championship, this instills confidence in the company’s future business success. plan,” the statement said.
The public offering represents a £98m increase in the company’s capital, which after the increase will amount to £200m. Notably, Ghazl El-Mahalla Football Company was completed in January 2021, which will be the first Egyptian joint-stock company specializing in football activities after the separation of football activities from Ghazl El-Mahalla Club, which is an affiliate of Misr Spinning. and a weaving company in El Mahalla El Kubra – one of the companies of the Ministry of State Business – in Kayan. An independent company called Ghazl El Mahalla Football Company. The capital of Mahalla Football Company consists of an in-kind share of Misr Spinning and Weaving Company in Mahalla, about £65 million, in exchange for the right to use the name and the stadium for a period of 20 years. £1 million before offering an increase for £98 million by public subscription.
