Premiere to serve as financial advisor for establishment of iron, steel plant in Dubai with investments of $400m
The plant’s output will reach 500,000 tonnes per year
Mohamed Ahmed
319 Articles
Latest by Mohamed Ahmed
Banque Misr – Pharos alliance suggests 3 scenarios for EFIC expansion
Scenarios include selling 100% of SCFP, increasing capital, offering 40% of shares, or selling to strategic investor
Collective purchases of shares to dominate EGX this week
Sideways trend tilted to rise between 12,800 to 13,400 points is expected
Arabian Cement to repay US dollar loans to avoid high costÂ
The company aims to shrink loans to EGP 40m compared to $65m in 2016
Misr Beni Suef Cement Company postpones coal mill installation to Q3
Company forced to postpone the mill installation due to the US dollar shortage and the effects of the currency flotation
Cleopatra hospital allocates EGP 350m for upcoming expansion plan
The company seeks to accelerate the pace of its acquisitions plan by acquiring Cairo Specialist hospital, as well as taking executive steps for building Al-Shorouk hospital
Samcrete plans to delist Al Dau Heights stock from EGX
Samcrete aims to maintain the listing of other companies, resulted from the division of the parent company, such as Samcrete Building Systems which will increase its capital
4 challenges facing upcoming IPO boom in EGX in 2017
Most challenges associated with threat of IPOs coverage, whether due to small size after pound’s flotation or companies’ profitability margins decline as a result of increased costs
Banks, pharmaceutical shares expected to attract investors in 2017
The flotation of the Egyptian pound will play an influential role in determining the attractiveness of shares for investors during 2017, especially after the price of the US dollar increased to more than EGP 19, which will affect companies’ activities and their ability to make a profit. Financial and technical analysts expect that the most …
Companies face fluctuations of pound with ‘various scenarios’ strategy in 2017
Two scenarios to deal with the increase and decrease of the US dollar and the effect on cost and pricing
AMOC revenues poised to grow at an average 72% annually until 2018/2019
Floating the exchange rate has boosted expected financial results of Alexandria Mineral Oils Company (AMOC). Specialised in turning heavy fuel oil into high-value petroleum products, the company’s output is valued according to the price of the US dollar, while the greenback accounts for 88% of its inputs of raw materials. According to a report by …
Amer Group restructures restaurants to keep up with consequences of pound flotationÂ
Company begins establishment of residential project comprising 23,000 units near Porto MarinaÂ
EGX30 targets 13,400–13,600 points this week
Technical analysts predict the EGX will continue making gains, while trading volume increasesÂ
EGX named one of highest US dollar revenue-achieving emerging stock markets in 2017
The initial indicators recorded by the Egyptian Exchange (EGX) during the first two weeks, as well as international reports’ expectations of a relative increase of the Egyptian pound have confirmed that the EGX came amongst the list of stock exchanges achieving the highest US dollar revenues in 2017. There are three factors which put the …
318 ships transit Suez Canal last week carrying 17.26m tonnes
Suez Canal traffic data showed that 318 ships transited the canal, with a total load of 17.26m tonnes, between 6-12 January. An average of 45.43 ships transited the canal per day during that period, with an average load of 2.47m tonnes per day. The average load per ship was about 54,280 tonnes during that period. …
Bedaya Fund aims to acquire stakes in 2 companies for EGP 20m in Q1 2017
Bedaya Fund for Small- and Medium-Sized Enterprises (SMEs) aims to acquire stakes in two companies for a total value amounting to EGP 20m in the first quarter (Q1) of 2017, according to a source close to the management. The two companies are among 15 SMEs and startups. The source said that the fund’s management has …
KIMA pays Tecnomont EGP 1.3bn for planned Aswan expansion
Maher El-Abd, the head of investor relations in the Egyptian Chemical Industries Company (KIMA), said that the company has paid EGP 1.3bn by the end of 2016 to the Italian company Tecnomont. The money is meant to be spent on construction and operational processes to establish new production units, and carry out the rehabilitation of …
Dollar shortage crisis impacts Juhayna’s expansion agreement with Arla Foods
The worsening dollar crisis, which began in 2015 and resulted in the dollar reaching as high as EGP 20, has lead to a reduction of benefits for Juhayna Food Industries from its partnership with European Arla Foods where the latter produces its products in the Egyptian market. According to an official source in Juhayna, the …
Mubasher offers consulting for 3 deals worth EGP 150m
Mubasher Advisory for Securities is offering a package of financial consulting services to a number of companies, said board member Ehab Rashad. The companies, he explained, aim to register on the Egyptian Exchange (EGX), Nile Stock Exchange, or implementing expansions. Rashad noted that the first deal, to which Mubasher is advising, includes three deals for …
Hermes to cover 50% of Vortex acquisition of solar projectsÂ
EFG-Hermes intends to play the role of initial public offering (IPO) underwriter for a 50% ratio of the capital of the agreement entered into by Vortex Company to acquire various solar power projects owned by Terra Form Power in the United Kingdom at a value of ÂŁ470m. EFG-Hermes will retain 5% of the value of …
293 ships transit the Suez Canal in 6 days carrying 15.3m tonnes
Suez Canal traffic data showed that 293 ships transited the canal, with a total load of 15.3m tonnes, in the last six days of last week. An average of 48.83 ships transited the canal per day during that period, with an average load of 2.55m tonnes per day. The average load per ship was about …
EGX30 targets 13,100 points this week
Technical analysts predicted that the Egyptian Exchange (EGX) will continue to take advantage of the falling price of the pound, and aims to achieve a new record level near 13,050-13,100 points in this week’s trading after the New Year’s celebrations and Christmas holidays. The EGX30 closed at a new level of 12,824.3 points, with weekly …
EGX to communicate with the government to activate IPO programme
Positive indicators of EGX increases chances of new IPOs success, says EGX chairperson
Elsewedy Electric’s revenue predicted to increase by 39% annually from 2017-2020 following pound’s flotation: Mubasher
“Turnkey Project” is the most profitable sector at Elsewedy after the flotation of the pound, because its projects’ revenues are in foreign currency
Qalaa studies restructuring ASEC Engineering to control expenses
Company is facing expense hikes on back of spare parts price increases amid plummeting currency
Brokerage companies pin hopes on flotation, government offerings to improve exit negotiations
Executives confirm that acquisitions are now based on minimum value of brokerage licence or companies’ book value
Will the EGX achieve more record increases this week?
Experts said they cannot determine a specific vision for the EGX following its significant performance last week due to the decline of the Egyptian pound
ZMID aims to collect instalments worth EGP 169m within one year
Zahraa Maadi Investment and Development company (ZMID) aims to collect the instalments generated from the sale of land and housing units worth EGP 169m within a year in order to support the company’s liquidity, according to a source in the company. The source noted that these units and lands are located in Zahraa Maadi city. …
Cartel Capital to help Gulf companies invest in food sector acquisitions
A Saudi Arabian and a Bahraini company have decided to enter the market through the dairy sector
Flotation removes Egyptian IPOs from consideration by some foreign institutions
Floating the Egyptian pound lowered the value of IPOs abroad