• Financial close could be before year-end
  • Football club planning IPO
  • New draft law to allow sport clubs to list on exchange

Egypt’s largest football club, the Cairo-based Al-Ahly, is looking to fund the construction of a new stadium with project financing.

Cairo-headquartered investment bank CI Capital is the financial adviser for the potential project financing. Financial close is targeted for before the end of the year.

The club currently plays at Cairo International stadium, which was built in 1960.

CI Capital is also advising a planned initial public offering (IPO) of the football club, as part of its efforts to meet standards set by the international football association Fifa.

The club is currently owned by the state, but the plan is to create a subsidiary of the club and list that on the Egyptian stock exchange.

The IPO is likely to happen in 2016.

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