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Egypt Kuwait Holding starts trading in Egyptian pound on EGX - Daily News Egypt

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Egypt Kuwait Holding starts trading in Egyptian pound on EGX

Company plans to invade highly under-penetrated insurance sector

Egypt Kuwait Holding Company (EKHO) starts, on Sunday, trading 68.4% of its shares listed on the Egyptian Exchange (EGX) in Egyptian pound.

A source in EKHO said that the company is planning to invade the highly under-penetrated insurance sector and capitalize on its newly established consumer finance arm to enhance group profitability

The source added that Sprea Misr continues to reap the benefits of being Egypt’s leading formaldehyde products producer and is expected to boost its product portfolio with the inauguration of a new sulfuric acid plant in 1H22 (adding about $4m to EKHO’s bottom line.

Pharos Research said they are optimistic about EKHO’s outlook, based on many key developments:

AlexFert is well positioned to capitalize on robust urea prices over the short to medium terms

NatEnergy is expected to continue to reap the benefits of increased household natural gas installations with around 160k-180k installations per annum

ONS continues to retain promising potential as it prepares for phase three of its development plan, which entails the use of advanced engineering and methodologies to dig seven new wells in its Kamose field

The MDF project is expected to begin operations by 1H22 and in its first year of operations is expected to add about $4m to EKHO’s bottom line

Pharos expects EKHO to deliver $150.8m and $170m in bottom line in 2021 and 2022, respectively, supported by solid performance across all platform companies

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