RIYADH: Egypt’s investment bank Prime Capital is about to conclude the private placement of the state-owned football club Ghazl El Mahalla, at a value of at least 37 million Egyptian pounds ($2.3 million). The club is preparing the prospectus for its initial public offering on the Egyptian stock exchange, Almal reported. It aims to offer over 60 percent of its capital and raise around 135 million Egyptian pounds. Ghazl El Mahalla will be the first football club in the Middle East to list its shares on the bourse.