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Trading on Ghazl El-Mahalla’s shares likely to begin in April

Trading on Ghazl El-Mahalla’s shares likely to begin in April

ArabFinance: Trading on Ghazl El-Mahalla Company’s shares is expected to commence by early April, CEO of Prime Holding Mohamed Maher said in an interview with Asharq Bloomberg.

Prime Holding will issue the initial public offering’s (IPO) prospectus of Ghazl El-Mahalla within days, Maher pointed out.

Subscription into the shares of Ghazl El-Mahalla is set to begin by the end of February until mid-March, he noted.

Ghazl El-Mahalla is seeking to float 60% of its shares on the Egyptian Exchange (EGX) by raising its capital to EGP 200 million from EGP 65 million, and is planning to allocate EGP 135 million in proceeds from the offering.

It is worth noting that Prime Holding acts as the bookrunner of Ghazl El-Mahalla’s IPO.

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