Egypt’s Al Ahly football club mulls IPO

Al Ahly Sporting Club, Egypt’s most decorated football club, is eyeing a potential IPO with 49 percent of the company’s shares up for public offering, the company’s chairman Yasin Mansour told Alarabiya.

The club’s board of directors is considering offering shares of the most successful club in African history, through a public offering in preparation for a listing on the Egyptian Stock Exchange.

Mansour said that the shares to be offered for public subscription will reach 49 percent, while Al Ahly club will maintain its controlling stake in the company with the remaining 51 percent.