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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 Tawfiq 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.