BRIEF-Merlin to absorb two units in Spain
* APPROVED ON TUESDAY INTEGRATION VIA MERGER OF ITS WHOLLY OWNED SUBSIDIARIES EXPLOTACIONES URBANAS ESPANOLAS AND CENTROS COMERCIALES METROPOLITANOS
CAIRO, April 4 A private placement of shares by Egypt's MM Group was covered 9.2 times and the final share price was set at 5.96 pounds ($0.33), underwriter Beltone Finance said on Tuesday.
MM Group for Industry & International Trade aims to start trading its stock on the Egyptian exchange next week after offering 30 percent of its shares in private and public offerings, raising 750 million pounds ($42 million).
The company distributes several international brands in Egypt including Vodafone, Samsung Electronics, Jaguar, Land Rover and Ferrari.
"The private placement of MM Group's shares was finalised last night and was covered 9.23 times. The final price for the shares in the private and public offerings was set at 5.96 pounds per share," said Osama Rashad, director of finance and investor relations at Beltone Financial Holding.
($1 = 18.0000 Egyptian pounds) (Reporting by Ehab Farouk; writing by Dominic Evans; editing by David Clarke)
DUBAI, June 28 Stock markets in the United Arab Emirates and Kuwait may move little in thin trade on Wednesday as they return from three days of Eid al-Fitr holidays lacking fresh news to change prices.