Egypt’s clearing house MCDR to launch IPO for sports arm in November

Egypt’s Central Clearing, Depository, and Registry House MCDR is planning a stock market listing for its sports arm El-Makasa Sport by next November, its chairman said on Wednesday.

“We’re working on the listing measures, including increasing the company’s (El-Makasa Sport) capital from 42 million Egyptian pounds to 100 million pounds,” Mohamed Abdel-Salam told Amwal Al Ghad.