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Thursday, 1 August 2019

Misr Clearing looking to IPO sports subsidiary

IPO WATCH- Misr Clearing looking to IPO sports subsidiary: Procedures to IPO Misr Lel Makkasa Sporting Club will be completed by November, Misr for Central Clearing, Depository, and Registry (MCDR) boss Mohamed Abdel Salam told Amwal Al Ghad. MCDR is working on increasing its subsidiary’s capital to EGP 100 mn from EGP 42 mn, Abdel Salam said. Sporting clubs were allowed in 2017 to be listed on the EGX under the Sports Act, which allows sports companies to be established for profit.

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