Sector News

Cairo – Mubasher: Prime Holding announced that its extraordinary general meeting (EGM) approved a five-for-one share split.   Each share with a value of EGP 5 will be subdivided into five shares with a value of EGP 1 each, the company said in …

Cairo – Mubasher: The ordinary general meeting (OGM) of Reacap Financial Investments consented to purchase the entire stake of Naeem Holding for Investments in Naeem Consulting Services which represents 98%.  The OGM approved the deal’s …

Cairo – Mubasher: Corplease Financial Leasing, a subsidiary of CI Capital Holding for Financial Investments, has successfully finalised its eighth securitisation bond issuance worth EGP 2.2 billion. The proceeds will be used to reduce leverage and …

Cairo – Mubasher: GEMS Egypt for Education Services has acquired a majority stake in Option Travel, a leading transportation provider in the Egytpian market. The deal is line with GEMS Egypt’s “strategy of creating a one stop shop for top tier …

Cairo – Mubasher: Arabia Investments Holding announced that its subsidiary Rawajj for Autoloan closed its fourth securitised bond issued by Tawriq Securitization at a value of EGP 295 million backed by Rawajj’s portfolio. The proceeds from the …

Cairo – Mubasher: Several companies listed on the Egyptian Exchange (EGX) are expected to benefit the most from the Central Bank of Egypt’s (CBE) decision to raise the debt burden ratio of retail portfolio to 50%. The banking sector is forecast to …

Cairo – Mubasher: EFG Hermes announced that its subsidiary EFG Hermes Finance Holding and Ghabbour Auto’s (GB Auto) subsidiary GB Capital signed a definitive sale and purchase agreement (SPA) to acquire 75% of Tokio Marine Egypt Family Takaful. …

Cairo – Mubasher: CI Capital Holding for Financial Investments decided to contribute in the capital of the Egyptian Commodity Exchange. The chairman has been authorised to determine the contribution percentage based on the results of discussions …

Cairo – Mubasher: The consolidated financial statements of Nile City Investment showed a 7.83% year-on-year net profit increase during 2018. Net profits rose to EGP 527.35 million during the twelve-month period ended 31 December, compared to EGP …

Cairo – Mubasher: Qalaa Holdings is expected to turn profitable by 2020 with the consolidation of the Egyptian Refining Company's (ERC) results in the first quarter of next year.   “Management currently expects the consolidation of profits from …

Cairo – Mubasher: EFG Hermes announced that its subsidiary Hermes Securities Brokerage (HSB) has finalised Egypt’s first short-term bonds worth EGP 400 million.   The issuance is the first tranche of the EGP 2 billion bond originated by EFG …

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced the completion of the first securitisation bond, backed by MNHD’s receivables portfolio of EGP 370 million. The issuance is in line with the real estate developer’s strategy …

Cairo – Mubasher: The consolidated financial statements of Qalaa Holdings showed a turn to losses during the first nine months of 2019. The Egyptian company suffered net losses of EGP 901.23 million in the nine-month period ended 30 September, …

Cairo – Mubasher: Arafa for Investment and Consultancies reported a 682% year-on-year profit hike during the nine-month period ended 31 October, the company’s consolidated financial statement showed. Net profits surged to $10.8 million in the …

Cairo – Mubasher: Prime Holding announced a new board structure following the dismissal of the vice chairman and CEO Khaled Rashed from the board of directors. Mohamed Maher Ali has been named as the new vice chairman and CEO, the company said in …

Cairo – Mubasher: Prime Holding announced that its vice chairman and CEO Khaled Rashed has been removed from the board of directors. The board of directors has also decided to appoint Moustafa Abdel Monem Hassan El-Hayawan as a new board member, …

Cairo – Mubasher: Sarwa Capital Holding for Financial Investments announced that Sarwa Securitization closed its latest securitised bond issuance worth EGP 1.8 billion backed by the portfolios of Contact Auto Credit and its affiliates. The …

Cairo – Mubasher: Arab Investment Company has acquired 9.08% of the capital shares of Arabia Investments Holding (AIH). The company has purchased 122.6 million shares for a total value of EGP 36.95 million at an average price of EGP 0.3 per share, …

Cairo – Mubasher: EFG Hermes announced that it has completed advisory on the world’s biggest-ever initial public offering (IPO) of oil giant Saudi Arabian Oil Co (Aramco). The Egyptian investment bank acted as joint bookrunner of Aramco’s offering …

Cairo – Mubasher: CI Capital Holding for Financial Investments currently considers contributing to establishing the Egyptian Commodity Exchange. The company’s board of directors, set to convene on 18 December, will discuss the potential …

Cairo – Mubasher: The board of directors of Mohandes Insurance decided to increase the company’s issued capital to EGP 187.5 million from EGP 150 million through the issuance of bonus shares. The insurer’s issued capital is proposed to be …

Cairo – Mubasher: The consolidated financial results of Mohandes Insurance showed a 24.97% year-on-year profit increase during the first quarter of the fiscal year 2019/2020. The insurer’s net profit went up to EGP 49.45 million from July to …

Cairo – Mubasher: Financial Advice Corporate Transactions (FACT) has set the fair value (FV) of Beltone Financial Holding’s stock at EGP 2.52 per share. The final value of shareholder rights amounts to EGP 1.13 billion, FACT said, according to a …