Prime Holding added that discussions are currently in progress regarding the due diligence findings in preparation for signing of the definitive agreements in order to complete the transaction after securing the required approvals from the Financial Regulatory Authority.
Latest by Alyaa Stohy
Pharos expects $21-22m net profits for EKH year-end
Large private company to be offered on EGX by November
Naeem expects cooling down of sales in Celia during 2019
Prices of the company’s products to increase by EGP 1 after the approval of new tax, says Fouad
HHD opens door for real estate developers to compete for managing company’s portfolio of assets
Project will be self-financed by EGP 3.4bn from the company’s liquidity and sales of residential units
GB Auto revenues fell 6.3% y-o-y to EGP 5.65bn in 2Q19, with EGP 8.9m net losses
Company studies borrowing EGP 250m to fund future expansions
The production capacity of the new line will be 270,000 pieces a day, the statement added.
This is the first Developmental Financial Institution (DFI) to lend Raya since inception.
Fawry’s IPO is likely to boost hopefulness in market, Eid holiday signals calm trading
EFG Hermes conducted EGP 8.2bn of transactions thanks to institutions deals
Bidding firms are Hermes, CI Capital, Beltone Financial, HC, and Pharos
The EGX welcomes all new financial products that can attract new segments of investors as long as they are consistent with the EGX rules and procedures.
Most of this liquidity will come from Fawry IPO which is expected to energise the Egyptian Exchange (EGX), increasing the chances of profit through the expected rise in stock prices.
Completion of Terminal 96 deepening project phase 1 by end of current year
Company to implement insurance brokerage requests electronically in 4Q19, revenues expected to reach EGP 869.4m by year-end
Response rate for the offer 54%; 900m shares not called until end of yesterday’s session
Project includes 3,000 residential units, 500 villas, international restaurants, an international school
The purpose of the borrowing is to finance the acquisition deal over Cairo Cotton in a deal worth EGP 140m. Dice will self-fund the remaining EGP 50m.
Gad: 4 private companies preparing for EGX float, 2 will be offered before year-end
Company focuses on enhancing its market share in Africa
Hermes’ expected share in education fund investments in 2019 amounts to $40m: Moussa
Investor Relations and Business Development Manager at MTI, Ashraf El-Ghannam, said the group will focus on enhancing profitability by increasing contribution of high-profit-margin business lines, and replicating MTI’s business model to its recently consolidated subsidiary Qanawat.
EGX expected to continue fluctuating in coming sessions
Correlations Q2 of 2019 – positive for petroleum product producers; weak for consumers, petchems, steel manufacturers
Dividends distribution not expected in 2019, but could be possible in 2020
El-Lisan Hotel-Ras El bar opens July with EGP 230m investments, Shahrazad Hotel to be developed with EGP 100m investments
FV of company’s shares being determined before approval, completion of offering procedures: Okasha