MB Engineering shares to start Cairo SME bourse trading on April 5
Shares of MB Engineering Group will start trading in Egypt’s bourse for small and medium-sized enterprises, known as NILEX, from April 5th, said its financial adviser SIGMA Capital.
Founded in Egypt in 1981, MB Group is currently the sole agent of Hager, Samwha, and Hyundai in Egypt, according to its official website.
“Catalyst Partners in cooperation with SIGMA Capital will begin tomorrow (Tuesday) a public offering of 27.7 percent of MB Group’s shares, equivalent to 5.5 million shares, at price of 5.95 Egyptian pounds per share, for gross proceeds of 32.8 million pounds ($47.2 million).” Mohammed Hammam, Managing Director of SIGMA, said Monday.
Established in 2012, Catalyst Partners is a growth investment firm that focuses on developing medium-sized enterprises and family businesses in Egypt. It functions as a catalytic agent for growing businesses, simultaneously fostering and monitoring expansion to ensure a sustainable future for its partners.
