MTI IPO '1st IPO in 2017' to be launched on EGX on April 2

MM Group for Industry and International Trade (MTI) will be floated on the Egyptian Exchange (EGX) on April 2 trading session, EGX reports.

The company seeks maximizing its shareholders base through public and private offerings with a maximum of 118.8 million shares, 30% of the company’s shares, at a maximum price of EGP 6.06 per share.

The initial public offering (IPO) constitutes 15% of the offering, around 4.5% of the company’s shares (17.8 million shares). The stake is available for both individuals and legal persons, starting from Sunday trading session, at a minimum of 100 shares and a ceiling of 900 shares each.