
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
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I expect two or three offerings from the government’s IPO programme this year and feel optimistic about the EGX’ future: Metwally
Study conducted to allow movable collateral registries for consumer finance activity
Saudi, Emirati sovereign funds are interested in health, pharmaceutical sectors in Egypt, says Mostafa Gad
Macro Group and Ghazl El-Mahalla SC are the closest, followed by Ebtikar and Abu Auf
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.
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.
The suggested products are sustainable green and Islamic microfinance instruments, along with a special product to serve the agricultural sector.
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.
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 has solid year in terms of advisory business during 2021, with closed deals north of $1.6bn
Passenger car market in Egypt to grow by 10-15% in 2022, GB Auto expects
Management expects to start Sudan operation this quarter
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
EGX30 closed at 11,731.71 points, recording decline of 2.34% last week
Company targets EGP 130m in sales during 2022: Chairperson Sayed
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 recently exits TOTAL through put option
EGX30 closed at 12,012 points last week, recording decline of 0.26%
Issued capital of Macro Capital amounts to EGP 115.4m
It is part of 3-year bond issuance programme worth EGP 3bn
Microfinance companies account for largest market share in October 2021, at 56.98%
31,000 companies registered on e-invoice platform for B2B transactions
The Financial Regulatory Authority recorded only one sukuk issuance worth EGP 2.5bn during 2021 by Contact Holding.
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.
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.
Palm Hills’ sukuk issuance worth $3bn postponed to January 2022
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.
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.
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’ 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.