State-run fintech e-finance to offer 14.5% stake on stock market in Q4 2021
Company to offer almost 258 million shares to investors, of which 177.8 million in primary issue, 80 million in secondary sale
Alyaa Stohy
717 Articles
Latest by Alyaa Stohy
Egypt Kuwait Holding starts trading in Egyptian pound on EGX
Company plans to invade highly under-penetrated insurance sector
Juhayna records 30% y-o-y increase in net profit to EGP 428m in 2020
Company’s net profit in Q4 2020 reaches EGP 45m, growing by 19%
Egypt’s Financial Regulator lessens minimum required shares to list on EGX
Companies looking to list shares on EGX must now offer no less than 1% of EGX’s total free-float market cap
EGX proposes rules for listing special purpose acquisition companies
Amendments also would ease process of listed companies acquiring non-listed entities
EGX continues trading above support level, increasing chance of resuming upward move
The benchmark index in the Egyptian Exchange (EGX30) has closed at 11,056.27 points, recording a decline of 2.17% for the week. The index was still above its support level of 10,900 points, and it managed to form a higher low pattern. Meanwhile, the bullish scenario suggests that EGX30 will rise to the resistance level of …
Government IPO programme to resume before 2021-end: Minister of Planning
e-finance to be first government IPO in November: Sources
Domty imports 2 bakery production lines to be operational by mid-2022
Actual steps will be taken to establish company’s third factory: CEO El-Damaty
CMA CGM signs 2-year contract to use Alexandria Container & Cargo Handling Co. terminals
CMA CGM focuses its intra-Med services at Alexandria, El Dekhalia
Speed Medical receives financing worth EGP 1.57bn for 3 years
In a statement to the Egyptian Exchange on Tuesday, Speed Medical said that the fund manages $3.4bn assets, and is headquartered in Luxembourg. It also has offices in France, New York, and the Bahamas.
Commodity Exchange to start operation in Q1 2022
Ibrahim Ashmawy, head of the Internal Trade Development Authority (ITDA), said that the government aims to launch the Egyptian Commodity Exchange in the first quarter (Q1) of next year. The Commodity Exchange has been established within the framework of the state’s plan to develop internal trade. He pointed out that trading in any commodity exchange …
Ayady’s Ergo Media Ventures invests in Film Clinic
The Ayady for Investment and Development’s Ergo Media Ventures has signed contracts to invest in Film Clinic to expand the latter’s activities of development, production, and distribution of Egyptian films for regional and international audiences. Hala El-Said, Minister of Planning and Economic Development and Chairperson of the National Investment Bank (NIB), witnessed the signing of the investment contracts. The agreements were signed by Chairperson of Ayady for Investment and Development, …
CBE approves EFG Hermes, Sovereign Fund’s acquisition of Arab Investment Bank for EGP 3.8bn
Acquisition to increase issued, paid-in capital of AIB to EGP 5bn
Speed Medical Co. cancels acquisition plan of Prime Speed
Prime Speed was established in partnership between Prime Investment Group, SPMD
SODIC offered different location for its residential project in New Zayed
New allocated plot is beside original one, estimated at 440 feddan
Orascom Construction reports backlog of $5.9bn, net income of $47.7m in H1 2021
Orascom Construction has reported consolidated backlog increase of 8.8% year-over-year (y-o-y) to $5.9bn, while its pro forma backlog including 50% share in BESIX Group increased 6.0% y-o-y to $8.4bn as of 30 June 2021. Consolidated new awards increased 36.2% y-o-y to $1.8bn and pro forma new awards including 50% share in BESIX increased 35.9% y-o-y …
Egyptian Exchange likely to reach 11,450 points in case of breaking 11,145 resistance mark
EGX30 closes at 11,125.55 points, recording increase of 2.93% last week
Abu Soma Development seeks to launch tourist housing units on 500k sqm land
Studying issuance of securitization bonds worth EGP 300m to be completed by end of December: El-Missiri
EGX addresses capital market’s growth opportunities with stakeholders
Payna aims to increase business through EGX: Mounir
Mubasher Capital targets EGX listing within 3 years: Vice Chairperson
Company intends to invest EGP 350m in new products, expansions through five-year plan
EGX extends deadline for listed SMEs to contract registered sponsor until 31 August
Sponsor will assist SME market listed companies to develop their investor relations
Egypt’s El-Nasr Automotive, Uber test drive Chinese electric vehicle ‘E70’ ahead of local production
Local production of E70 model is scheduled to start by H2 of 2022
Palm Hills Developments revenue doubled y-o-y to EGP 4bn in H1 of 2021
Company realises new sales of EGP 7.7bn in H1 2021, increase of 76% y-o-y
Orascom Development records 40% real estate sales growth to EGP 4bn in H1 2021
Total revenue increased by 55.8% to EGP 3bn
Taqa Arabia, Germany’s MAN Energy partner to produce green hydrogen in Egypt
In a statement, the company indicated that under the MoU, TAQA, in cooperation with MAN Energy Solutions, will prepare a feasibility study over the next six months for the use of electrolysis solutions in hydrogen fuel stations.
EGX targets new resistance level of 11.200 points this week
Market capitalisation reaches EGP 715.7bn last week
Edita signs EGP 150m loan with Crédit Agricole to finance new bakery line
New bakery line set to be operational by Q1 2022
MNHD injects additional investments of EGP 486m in 2 mega projects during Q2 of 2021
MNHD’s investments in infrastructure, construction works amount to EGP 1.18bn in H1 of 2021
Prime Minister extends tenure of Egyptian Exchange Chairperson for 4 years
Farid assumed his position in August 2017
TMG reports Egypt’s highest ever real estate sales of EGP 63.9bn until H1 of 2021
Company’s contractual sales record EGP 21bn in H1 of 2021, up from EGP 4.4bn in H1 of 2020