NI Capital to open door for subscription to its equity fund by end-October
Return on investment exceeds inflation rate: Al-Nabarawi
Fatma Salah
382 Articles
Latest by Fatma Salah
Public Enterprise Ministry discusses with Chinese Handa increasing investment in Egypt
The move comes within the framework of the Ministry’s keenness to strengthen partnership with the private sector and open the way for foreign investment.
FRA issues future flow securitisation regulations, in preparation for CIRA’s EGP 2bn offering
Bonds enable public entities to provide the necessary liquidity: Farid
Naeem Holding studying the establishment of a real estate investment fund
The sources added that the target size is being determined and the investment policy will depend on investing in ready and rented properties that are not leased to foreign institutions.
Subsidiary of STC acquires 88% of Giza Systems at a value of $119m
It also acquired an indirect share through Energia Technologies, along with additional purchases from other shareholders in the company, bringing the entire share of Solutions to about 88%.
EGX seeks to strengthen investment cooperation with Kuwait
Kuwait’s investments ranked fourth in the Arab world with a value of EGP 2.1bn
Global stock market gains push EGX up 2.5%
Delayed flotation prompted foreigners to leave stock market: Hassan
Egyptian government, sovereign fund to partner with BPI to launch green ammonia plant in October
Initial investment of project amounts to about $750m: Sources
CIRA seeks to complete future flow securitisation programme of EGP 2bn before end-October
Programme is pending final approvals: Sources
EFG Hermes Corp-Solutions – Klickit partnership to offer financial tools to education providers
Agreement helps fill financing gap in education sector
Egypt’s PM issues decision to amend provisions of executive regulations of Capital Market Law
The amendments aim to further facilitate and stimulate the work of investment funds
PIF acquires DPI’s entire 33.4% stake in B.TECH for $150m
DPI achieved 4-time return on investment in 5 years
Qalaa Holdings turns to profitability in 2Q 2022, recording EGP 361m in consolidated net profit
Company’s management warns of impact of local currency devaluation on its business
Financial Brokerage Group leads market ranking in 3Q 2022
Expected boom in stock market’s transactions during remaining months of 2022: Abdel Qadir
Six securitisation issuances expected this year worth EGP 6bn
Raouf added that the issuances will be made in the consumer finance, real estate, and financial leasing sectors, noting that the volume of financial and real estate leasing ranges from EGP 800m to EGP 1.2bn for each issuance, while the volume of the issuance for consumer finance is estimated to be about EGP 300m.
CI Capital expects high activity in secondary debt market
The company closed conclusion of two securitization bond issuances, on behalf of Tamweel Securitization Company – the originator of Tamweel Mortgage’s Portfolio – and on behalf of GlobalCorp Securitization Company, the originator of GlobalCorp Financial Services’ Portfolio, with an aggregate value of EGP 2.882bn.
EFG Hermes closes second issuance of a securitisation bond worth EGP 2bn for subsidiary Corp-Solutions
The bond is backed by a receivables portfolio of EGP 2.9bn, representing 24 lease contracts.
EFG Hermes concludes advisory as joint bookrunner on Dubai-based Salik IPO
The IPO saw Salik offer 1.9 billion ordinary shares, representing 24.9% of its share capital, at a price of AED 2 per share, implying total gross proceeds of over AED 3.7bn ($1bn) and a market capitalization of AED 15bn ($4.1bn). EFG Hermes acted as joint bookrunner on the transaction as part of the banking syndicate advising the issuer and the selling shareholder. Salik will commence trading today under the ticker Salik. Following the transaction, Salik will remain a state-owned company, with the Government of Dubai owning 75.1% of the company’s share capital.
A subsidiary of Orascom Construction signs agreement with Supply Ministry to implement a warehouse
The company explained that the agreement included the implementation of a strategic warehouse for basic commodities on a build-own-operate system in Fayoum.
Egytrans considers acquiring complementary company
The company said that alternatives and available ways to implement the acquisition are being studied to make a preliminary decision regarding proceeding with the deal.
Egypt’s Sovereign Fund begins selling shares of companies prior to their listing on EGX
The government aims to add assets to the IPO fund with a value between 5 and $6bn, according to Minister of Planning and Economic Development Hala El-Said’s statements.
MNHD signs agreement with Asten College to open first international school in Taj City
Asten College is a project of the Balanced Education Company (BalancED) that follows the British Education System (IGCSE) and is one of the first schools to implement the digital transformation concept in education through a partnership with Microsoft Egypt.
FRA organises programme to qualify companies to disclose financial effects of climate change ahead of COP27
This comes in line with the trends of the Egyptian state preparing to host the UN Conference of Parties on Climate Change (COP27) in Sharm El-Sheikh this November.
Elsewedy Electric to obtain EGP 2bn in syndicated loan from 7 banks
The seven banks’ contributions in the loan came as follows: EGP 100m from Abu Dhabi Islamic Bank, EGP 500m from Al Baraka Bank, EGP 400m from the National Bank of Kuwait, EGP 300m from MIDBank, EGP 300m from the Industrial Development Bank, EGP 250m from the Agricultural Bank of Egypt, and EGP 150m from the Egyptian Arab Land Bank.
Tawasol, Lime Vest consortium does not intend to write off the shares of the New Medical Centre
The deal witnessed the complete exit of the Abu Dhabi Commercial Bank
Al-Masry Club signs contract with Zilla Capital to develop sports complex at an investment cost of EGP 4bn
President of the Club Kamel Abu Ali and the Board of Directors of the Albatros Hotels Group announced that they will launch a project to develop a new stadium complex with an investment value exceeding EGP 4bn, explaining that the project consists of an integrated sports area in Port Said that includes an international stadium built to international standards in cooperation with the largest engineering companies.
Invest for Jobs initiative launches project grants worth €10m
The iunitiative supports women’s participation in the labour market
The real estate sector is the most active in the EGX with turnover of EGP 1.3bn
The EGX’s indices recorded collective declines during last week’s trading amid sales to Arab and foreign investors.
PPPs can contribute effectively to achieving green economic and social development in Africa: Mahmoud Mohieldin:
Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, said that Public and Private Sectors Partnerships (PPPs) can contribute effectively to achieving green economic and social development in Africa. His remarks came during his participation in a session about the private sector’s role in implementing …
Contact aims to close securitization bond issuance of EGP 1.5bn within a month
The FRA approved the issuance of “Mudaraba Sukuk” with a value of EGP 2bn for 84 months. This is the fourth version of sukuk issuances by Contact Financial.