The Egyptian stock exchange (EGX) listed today MM Group for Industry and International Trade, marking the first initial public offering (IPO) in 2017.

Dr. Sahar Nasr, Minister of Investment and International Cooperation of Egypt has launched hell of session trading for this day, Tuesday to start the trading on share of MM Group for Industry & International Trade priced 5.96 EGP.

The IPO of MM Group has been covered around 19.27 times, and private placement was more than nine times over subscribed, The company has raised 708 million pounds from selling 30 percent of its shares.

MM Group for Industry & International Trade distributes several international brands in Egypt including Vodafone, Samsung Electronics, Jaguar, Land Rover and Ferrari.