The Egyptian stock exchange (EGX) will list MM Group for Industry and International Trade on Sunday, marking the first initial public offering (IPO) in 2017. According to the fair value of MM Group’s shares, the estimated total net profit this year would reach EGP 258.46m, with a price of EGP 0.65 per share. The purchase price is set at the offering price and the account to be opened in the Arab African Bank (AAB). It also expected to achieve a growth of 25% during this year, to reach EGP 5.8bn, with expectations to reach EGP 6.89bn in 2018. The sales of Samsung represent 60% of the company’s revenues, equivalent to EGP 2.79bn, with expectations to reach EGP 3.767bn this year, recording 65% of the company’s estimated sales in 2017.

Source: Daily News Egypt March 26, 2017 08:37 UTC