QALA For Financial Investments (CCAP)

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News

30 September 2018 11:21 AM Qalaa Holdings turns profitable in H1

Cairo – Mubasher: Qalaa Holdings on Sunday posted it has turned profitable during the first half of 2018 with a consolidated profit of EGP 233.28 million, compared to EGP 3.67 billion in losses in the same period a year earlier. Revenues grew to …

Financial Results

17 September 2018 05:51 PM Qalaa Holdings to inject up to EGP 32bn in energy projects - Chairman

By: Ahmed Allam Cairo - Mubasher: Qalaa Holding is planning to inject investments ranging between EGP 30 billion and EGP 32 billion over the next three years, chairman Ahmed Heikal has said. Speaking on the sidelines of a press conference by the …

Event

16 September 2018 11:19 AM Mubarak’s sons arrested over EGX manipulation

Cairo – Mubasher: The Cairo Criminal Court has ordered the arrest of ousted Egyptian President Hosni Mubarak’s two sons for violating the rules of the Egyptian Exchange (EGX) and the Central Bank of Egypt (CBE) to make unlawful profits through …

Corporate Actions

5 September 2018 11:49 AM Qalaa Holdings to begin trial operation at ERC in November

Cairo – Mubasher: Qalaa Holdings on Wednesday announced the completion of nearly 98% of its subsidiary Egyptian Refining Co’s (ERC), the Egyptian investment firm’s $3.7 billion greenfield refinery in the Greater Cairo area of Mostorod. The …

Companies Investments

4 September 2018 11:43 AM Qalaa Holdings trims investments in Algeria

Cairo – Mubasher: Qalaa Holdings on Tuesday announced that its subsidiary, Asec Cement, is looking to exit from Algeria-based Zahana Cement Factory. Asec holds around a 35% stake in the Algerian facility, Qalaa said in a statement to the Egyptian …

Companies Investments

27 August 2018 01:05 PM Qalaa Holdings invests in Taqa Arabia’s EGP 1.35bn solar power project

Cairo – Mubasher: Qalaa Holdings, the main shareholder in Taqa Arabia, on Monday announced its first investment in generating solar power through photovoltaic (PV) cells at a cost of EGP 1.35 billion. The Cairo-based firm aims at establishing, …

Companies Investments

3 July 2018 02:03 PM Qalaa Holdings to float 30% stake of Arabia Refining on EGX by 2019

Cairo – Mubasher: Chairman of Qalaa Holdings has unveiled a plan to offer shares of the company’s units on the Egyptian Exchange (EGX) within the framework of its five-year strategy. The Egyptian investment firm plans to begin with floating a …

Initial Public Offerings

3 July 2018 11:24 AM Qalaa Holdings gets EGP 162m from stake sale in Bonyan

Cairo – Mubasher: Qalaa Holdings on Tuesday announced that its subsidiary MENA Home Furnishings Malls Ltd. (BVI) has indirectly sold its entire 60 % stake in Bonyan For Development & Trade. Accordingly, Qalaa has raised EGP 162 million, excluding …

Corporate Actions

2 July 2018 10:01 AM Qalaa Holdings Q1 losses fall 69%

Cairo – Mubasher: Qalaa Holdings on Monday reported a 69% year-on-year decline in consolidated losses for the first quarter of 2018, recording a net loss of EGP 183.9 million from EGP 596.08 million. Revenues grew to EGP 3.08 billion in the …

Financial Results

4 June 2018 08:17 AM Qalaa Holdings’ unit, Castrol set up EGP 20m JV

Cairo – Mubasher: Qalaa Holdings announced that its subsidiary Taqa Arabia will establish a new joint venture (JV) with the UK-based Castrol, a subsidiary of British Petroleum (BP) Plc. The JV will be set up under the name of Castrol Egypt Oils …

Companies Investments

15 May 2018 01:00 PM Qalaa Holdings appoints financial advisor to set FV

Cairo – Mubasher: Qalaa Holdings has hired RSM Egypt - Financial Advisory as its independent financial advisor to conduct the fair value (FV) of its stock, according to a bourse filing. In April 2018, the Financial Regulatory Authority (FRA) has …

Corporate Actions

15 May 2018 00:35 PM Qalaa Holdings incurs EGP 5.9bn loss in FY17

Cairo – Mubasher: Qalaa Holdings on Tuesday reported a slight rise in its consolidated losses during the full-year ended December 2017. Net loss totalled EGP 5.9 billion last year, versus EGP 5.6 billion in 2016, the company said in a filing to …

Financial Results

2 May 2018 10:52 AM Qalaa Holding to net EGP 162m from selling stake in Bonyan

Cairo – Mubasher: The Egyptian leading investment company Qalaa Holdings on Wednesday said it will receive EGP 162 million from the sale of its stake in Bonyan for Trade and Development. The company’s unit MENA Home Furnishings Malls Ltd has …

Companies Investments

23 April 2018 06:32 PM Qalaa Holding’s stock surges 122% in 4M; lower subsidies main driver

By: Heba El Kordy Cairo – Mubasher: Qalaa Holding’s stock on the Egyptian Exchange (EGX) has seen a notable rising trend recently, and overall gains since the start of the year, as strong catalysts have bolstered the stock, analysts have said. …

Companies Investments

2 April 2018 01:45 PM Pharos Research re-initiates coverage on Qalaa Holdings at FV of EGP3/shr

Cairo – Mubasher: Pharos Research re-initiated coverage on Qalaa Holdings’ stock with an “Overweight” recommendation at a fair value (FV) of EGP 3 per share. The research company is concerned over Qalaa Holdings’ debt exposure that soared 110% in …

Stock Evaluations

5 March 2018 06:59 PM Egyptian Refining Co inks deal to delay $270m repayment

By: Ahmed Allam Cairo – Mubasher: The Egyptian Refining Company (ERC) has signed an agreement to delay the repayment of $270 million in loans. Under the agreement, the first tranche of the loan will mature in June 2019 rather than the end of 2017, …

Company News

5 March 2018 06:36 PM Egyptian Refining Company to begin trial operations by Q3

By: Ahmed Allam Cairo – Mubasher: Egyptian Refining Company (ERC), a subsidiary of Citadel Capital, is looking to complete the mechanical works at its oil-refining project in Mostorod by the end of June 2018. Speaking on the sidelines of opening …

Macroeconomics

30 January 2018 02:57 PM Enppi's 24% IPO sale on EGX underway - CI Capital

Cairo – Mubasher: Engineering for the Petroleum and Process Industries (Enppi) will float a 24% stake on the Egyptian Exchange (EGX) and foreign investors would be allowed to invest in, CI Capital’s chairman and CEO Mahmoud Atallah told state news …

Corporate Actions

2 January 2018 01:17 PM CI Capital acquires 80% stake in Reefy

Cairo – Mubasher: CI Capital Holding Company on Tuesday announced that it has acquired an 80% stake in Reefy Micro Finance Enterprise Services Company. The Egyptian financial services pioneer firm aims at reinforcing its strategy through this …

Mergers and Acquisitions

22 November 2017 11:12 AM CI Capital to launch IPO on EGX in 2018

Cairo – Mubasher: CI Capital plans to sell its shares on the Egyptian Exchange (EGX) in an initial public offering (IPO) in the second half of 2018, CEO Mahmoud Atallah told Alborsa News. Atallah forecast the IPO to be launched on the EGX in …

Initial Public Offerings

9 July 2017 11:18 AM Citadel Q1 losses increase 55%

Cairo – Mubasher: Citadel Capital’s consolidated losses for the first quarter of fiscal year 2017 rose 55% to EGP 546.64 million, versus EGP 352.07 million for Q1-16. However, revenues grew in Q1-17 to EGP 2.1 billion from EGP 1.7 billion for …

Financial Results

18 June 2017 10:23 AM Citadel Capital OGM adopts FY16 financials

Cairo – Mubasher: Citadel Capital’s ordinary general meeting (OGM) has approved the financial statements for fiscal year 2016. Furthermore, the OGM has adopted the board's and auditor’s reports on the year ended 31 December 2016, a bourse filing …

General Assembly

22 May 2017 11:55 AM Citadel Capital stock down to 6M low

Cairo – Mubasher: Citadel Capital’s stock declined on Monday to its lowest level since six months (13 November 2016), pressured by a rise in the company’s annual losses. By 11:05 am Cairo time, the stock fell 8.5% to EGP 0.86, with a turnover  of …

Trading Activities

22 May 2017 10:33 AM Citadel Capital losses rise 355% in FY16

Cairo – Mubasher: Citadel Capital posted on Monday an increase of 355% in its consolidated net loss for fiscal year 2016 to EGP 5.58 billion, compared to EGP 1.22 billion for FY15. Expenses decreased in FY16 to EGP 797 million from EGP 1.76 …

Financial Results

20 May 2017 01:57 PM Egyptian new refinery to begin production in 2018

Cairo - Mubasher: The Egyptian minister of petroleum and mineral resources said that the Egyptian Refining Company’s (ERC) project is expected to be begin operating by the end of 2017. The minister added on the sidelines of his visit to the Cairo …

Companies Investments Global Indices