Vertical expansion of current activities, non-banking financial sector among highlights of NI Capital’s 2022 plan
I expect two or three offerings from the government’s IPO programme this year and feel optimistic about the EGX’ future: Metwally
Alyaa Stohy
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FRA studies licensing green Islamic microfinance products
Study conducted to allow movable collateral registries for consumer finance activity
EFG Hermes expects Banque du Caire to be listed on EGX in 2022
Saudi, Emirati sovereign funds are interested in health, pharmaceutical sectors in Egypt, says Mostafa Gad
EGX awaits 6 new IPOs in 2022, equally divided between public, private ones
Macro Group and Ghazl El-Mahalla SC are the closest, followed by Ebtikar and Abu Auf
Abu Qir Fertilizers looks into feasibility studies of methanol project
The previous results came with a 21% economic return which is a high return compared to the field. However, the company is now revising the feasibility studies of the project given the changes in natural gas cost and methanol prices.
Will EGX get rid of selling pressure; go up towards 11,750 points this week?
The benchmark index EGX30 closed at 11,499.85 points last week, recording a decline of 1.98%. The EGX70 EWI also posted a 3.56% loss, concluding at 2,130.11 points, while the S&P index declined by 2.68% and concluded the period at 1,848.27 points.
FRA studies feasibility of green, Islamic microfinance products in Egypt
The suggested products are sustainable green and Islamic microfinance instruments, along with a special product to serve the agricultural sector.
Al-Ahly Capital, CIRA’s education venture proves ability to establish profitable entities
The venture (51% owned by CIRA, 49% by Al-Ahly Capital) launched the first private university project of its kind, Cairo Saxony University for Applied Sciences and Technologies, and will continue establishing new projects either by utilising Al-Ahly Capital’s assets or acquiring new ones, the management added.
MNHD plans capital increase to fund acquisition, development projects
Around half of the EGP 374.4m amount is earmarked for the acquisition of MINKA and EgyCan, and the other half is earmarked for the West Assiut project and other company developments.
CI Capital plans to launch factoring services in 2022
CI Capital has solid year in terms of advisory business during 2021, with closed deals north of $1.6bn
GB Auto plans to invest 2022’s EGP 550m CAPEX budget on complete knock-down lines
Passenger car market in Egypt to grow by 10-15% in 2022, GB Auto expects
Fawry plans to raise EGP 800m through rights issue
Management expects to start Sudan operation this quarter
Misr Capital and Fawry launch ‘Fawry Yawmy’ money market fund using fintech for the first time in Egypt and MENA
With a minimum initial investment ticket of EGP 500, Fawry Yawmy relies on Fawry’s state-of-the-art fintech and its expansive retail presence to reach the largest number of individual investors, upon opening the purchase and redemption phase scheduled on 30 January 2022
Selling pressure threatens further decline in EGX to 11,500 points this week
EGX30 closed at 11,731.71 points, recording decline of 2.34% last week
Nahr Al-Khair Company to debut on EGX next Tuesday
Company targets EGP 130m in sales during 2022: Chairperson Sayed
Rameda begins production of coronavirus antiviral drug ‘Molnupiravir Rameda’
The drug was developed by the American company Merck and is an oral antiviral drug approved for the treatment of adults infected with COVID-19.
B Investments aims to inject EGP 350m into food, beverages sector in 2022
B Investments recently exits TOTAL through put option
Profit-taking continues to chase EGX30 above 12,000-point level this week
EGX30 closed at 12,012 points last week, recording decline of 0.26%
IPO, private placement of Macro Capital’s 45% stake expected within month of registration with FRA
Issued capital of Macro Capital amounts to EGP 115.4m
First securitisation bonds issuance for MNHD worth EGP 300m completed: EFG Hermes
It is part of 3-year bond issuance programme worth EGP 3bn
Microfinance activities record EGP 25bn in October 2021: FRA
Microfinance companies account for largest market share in October 2021, at 56.98%
Egypt’s mobile wallet transactions surge 160% to EGP 233bn in 2021
31,000 companies registered on e-invoice platform for B2B transactions
Egypt expected to see EGP 5bn worth sukuk issuances in 1H 2022
The Financial Regulatory Authority recorded only one sukuk issuance worth EGP 2.5bn during 2021 by Contact Holding.
Financial Group tops brokerage market in 2021, with EGP 103.88bn worth transactions
The Commercial International Brokerage Company maintained its runner-up position by recording total transactions worth EGP 93.006bn, securing a market share of 10% of the total stock exchange transactions.
EGX witnesses EGP 8bn of IPOs in 2021, 4 new offerings expected in 2022
Sources believe that the EGX will witness four new IPOs in the first quarter (1Q) of the new year — including two from the business sector and two from the private sector — including Ebtikar e-Payments and Macro Group for Pharmaceuticals.
Egypt sees only one sukuk issuance of EGP 2.5bn in 2021
Palm Hills’ sukuk issuance worth $3bn postponed to January 2022
Orascom Construction seals $35m acquisition of Sawiris family company
Orascom Construction said in a disclosure sent to the Egyptian Exchange (EGX) on Tuesday, that the approval of the general assembly of shareholders of the deal was unanimously, with the exception of the Sawiris family, who abstained from voting due to their connection with the deal.
KIMA 2 plant provides 55% of its fertilizers production to farmers
Tawfik explained that four plants were established to produce ammonia. They are: Helwan, El Masreya, Misr Fertilizers Production Company (MOPCO) and Alexandria. He went on to explain that KIMA plant started production since the 1960s, and soon became one of the most important pillars of the industry; however, due to the increase in electricity consumption and its high cost, the plant was converted to operate with natural gas to produce urea instead of ammonia nitrate.
Egypt to offer 1st insurance policy for Egyptian expats early 2022
Omran’s remarks came during a press conference to launch the first optional insurance policy for Egyptians working and residing abroad, under the supervision of the Ministry of Immigration and in cooperation with the FRA.
EFG Hermes signs EGP 750m sale, leaseback agreement with MNHD
EFG Hermes’ investment banking division acted as the financial advisor for the transaction, which will also encompass a few securitization issuances as follow-on transactions, while EFG Hermes Corp-Solutions, a wholly-owned subsidiary of EFG Hermes Holding and one of Egypt’s leading leasing and factoring companies, acted as the lender.