Egyptian football club plans $8.6mln IPO

The sale of the stocks under the IPO will be held within two weeks

  
Soccer Football - International Friendly - Belgium vs Egypt - King Baudouin Stadium, Brussels, Belgium - June 6, 2018 Belgium's Michy Batshuayi in action with Egypt's Ali Gabr.

Soccer Football - International Friendly - Belgium vs Egypt - King Baudouin Stadium, Brussels, Belgium - June 6, 2018 Belgium's Michy Batshuayi in action with Egypt's Ali Gabr.

Reuters/Francois Lenoir
JEDDAH: Egypt’s Ghazl El Mahalla Sporting Club intends to sell EGP135 million ($8.6 million) shares through an initial public offering, said minister of public business sector.

The sale of the stocks under the IPO will be held within two weeks, Hesham Taqfiq told CNBC Arabia.

Al Ahly Sporting, Egypt's most popular football club, also announced last month its plan for a potential IPO with 49 percent of the company’s shares.

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