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Ghazl El Mahalla Eyes Public Offering Next Week

The private offering of Ghazl El Mahalla’s IPO has closed with participation from Misr Insurance, Ghazl El Mahalla’s parent company, Egyptian & Kuwaiti investment companies, two Saudi companies, and other high-net individuals.

The private offering amounted to EGP 33 million out of the EGP 135 million capital to be listed on the EGX, leaving EGP 102 million for the public offering.

Ghazl El Mahalla’s general assembly is set to discuss the start of the public subscription period and approve the prospectus this Saturday, January 22nd, 2022.