MM Group for Industry and International Trade is looking to offer 30% of its shares (118.8mn shares) in an initial public offering (IPO), which is expected to start in the first week of April 2017. The shares will trade at a maximum price of EGP 6.06 per share at a fair value of EGP6.75/share, as approved by the Egyptian Financial Supervisory Authority. The company aims to raise EGP750mn from the IPO, with 85% of the offered shares to be allocated to institutional investors and 15% to individuals. 
 
MM Group was established in 1895 and operates c24 subsidiaries in a variety of activities, including production and assembly of cars and tractors. MM is the distributor of several international brands such as Vodafone, Samsung Electronics, Jaguar, Land Rover, Ferrari, Maserati and Bentley Motors.