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

Egyptian real estate developer Misr Italia Group is seeking to raise about 1.5 billion Egyptian pounds (Dh305 million, $82.5 million) from a share sale on the country’s stock exchange that is expected to take place by May.

The Egyptian Exchange announced on Sunday the sale of 74.75% of CI Capital Holding’s shares, affiliated to the Commercial International Bank (CIB), at EGP 710.158m.

Building on the crucial role of SMEs in supporting and enhancing the Egyptian economy, EGX and ALEXBANK signed a MoU to support and empower Egyptian SMEs, by facilitating access to capital for business expansion of promising and growing companies.