Public Enterprise Ministry in Talks With Investment Bank for IPO of Ghazl El-Mahalla Football Company

01/12/2020

The Ministry of Public Enterprise Sector has begun talks with an investment bank regarding its potential appointment as advisor for a planned IPO listing two thirds of the yet-to-be-established company for the football operations of Ghazl El-Mahalla club, Public Enterprise Sector Minister Hesham Tawfik told Masrawy.

Tawfik said that a bookrunner will also be appointed in the coming days, after which the roadshow for the IPO subscription will begin.

Last month, Tawfik said that Ghazl El-Mahalla football company would be established with EGP 150 million ($9.6 million) in capital, where EGP 100 million will be raised from the IPO and EGP 50 million allocated directly.