Naeem recommends SWDY as a BUY with EGP 17.16/share
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The project’s contract was signed last Thursday, and Egypt Cable will start implementing the project within 20 months of receiving the down payment of the contract.
The company recorded EGP 96m in FX losses during the quarter
EGP appreciation poses itself risk, as most of revenue generated is priced in USD
EPRD and AFD finance the foreign tranche of the project
The project’s duration is 18 months, says the statement