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Provisions have been increased to EGP 49 million this year
29 September 11:37 AM Sarwa Capital's expansion plans not affected by COVID-19 - Interview
By: Islam Fadl Cairo – Mubasher: Sarwa Capital Holding for Financial Investments has managed to obtain the first consumer financing licence in Egypt and be officially authorised as the first consumer financing company at traffic departments, the …
The Sukuk will be offered for 57 months
23 September 05:39 PM EFG Hermes lists Ijara Sukuk on EGX
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee announced the listing of Ijara Sukuk issued by EFG Hermes Securitization Company. The Ijara Sukuk is compliant with Islamic Sharia, tradable, and non-convertible, according to a …
The offer values AUB Egypt at EGP 29.78 per share
21 September 06:12 PM Egypt's FRA approves AUB Egypt acquisition offer
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the purchase offer submitted by Ahli United Bank – Bahrain (AUB Bahrain) and Misr Strategia Investment (MSI) to acquire Ahli United Bank - Egypt (AUB Egypt). AUB Bahrain …
The bank approved a one-for-10 bonus issuance for shareholders
21 September 01:23 PM EBE amends proposed dividends for FY19/20
Cairo – Mubasher: The board of directors of Export Development Bank of Egypt (EBE) decided to retain the EGP 136.4 million cash dividends proposed to be paid to shareholders for fiscal year 2019/2020. This move is aimed at supporting the capital …
MTI owns 49.9% of Ebtikar
21 September 11:02 AM Ebtikar hires EFG Hermes to explore listing options
Cairo – Mubasher: MM Group for Industry and International Trade (MTI) and B Investments Holdings announced that Ebtikar Holding for Financial Investments appointed the Egyptian Financial Group Hermes Holding (EFG Hermes) to explore the various …
The former Chairman caused severe damage to the company
21 September 10:25 AM Investors Holding Group sues former Chairman of Egyptian unit
Mubasher: Investors Holding Group has filed a lawsuit against the former Chairman of its subsidiary Grand Real Estate Projects – Egypt, Ahmed Abdel Fattah Bayoumi Badr. The Kuwaiti firm said that the former Chairman violated his duties and caused …
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15 September 02:04 PM Egypt's FRA studies offer to acquire AUB Egypt
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) said an optional purchase offer draft was submitted by Ahli United Bank – Bahrain (AUB Bahrain) and an Egyptian investment firm to invest on the shares of Ahli United Bank - Egypt (AUB …
IMEX International will acquire at least 51% of Nile Cotton Ginning
10 September 03:30 PM EGX receives IMEX's offer to acquire Nile Cotton Ginning
Cairo – Mubasher: The Egyptian Exchange (EGX) announced that an offer has been submitted by IMEX International to purchase up to 52.99 million shares or 100% of Nile Cotton Ginning for EGP 50 a share. The offer includes acquiring a minimum 51% …
GB Auto achieved net profits of EGP 363.02 million in six months
10 September 01:30 PM GB Auto announces merger of three companies into RG Investments
Cairo – Mubasher: Ghabbour Auto (GB Auto) announced that NR Investments SARL, DR Investments SARL, and KA R Investments SARL have merged into RG Investments SARL. Shareholders of these companies will obtain holdings in RG Investments without …
The request will be submitted to the listing committee
9 September 06:08 PM EGX approves Americana Egypt's voluntary delisting procedures
Cairo – Mubasher: The Egyptian Exchange (EGX) approved a request by the Egyptian Company for International Touristic Projects (Americana Egypt) to proceed in delisting its shares from the bourse. The company will delist 400 million shares at a …
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9 September 01:34 PM Marrakech Court attaches $4.13m property for Saudi Paper’s case
Riyadh – Mubasher: The Saudi Paper Manufacturing Company said its lawyer in Morocco received a court order issued from Marrakech Commercial Court mandating the attachment of new real estate property in guarantee of MAD 38 million ($4.13 million). …
Murban crude was priced at minus $0.50 per barrel in October
8 September 01:10 PM ADNOC cuts Murban crude oil price for October
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) has lowered the official selling price (OSP) of its benchmark Murban crude at minus $0.50 per barrel (pb) to Platts Dubai for October, down by $1.35 from September, Reuters reported on …
The remaining proceeds amount to EGP 83 million
8 September 11:38 AM Beltone uses EGP 83m of capital raise proceeds
Cairo – Mubasher: Beltone Financial Holding has used EGP 83 million of the capital increase proceeds amounting to EGP 166 million at the end of last June. Beltone Financial Holding used EGP 31 million, while Beltone Securities Holdings and Beltone …
The facility will enable the company to promote the sale of its “ready to move” units
7 September 05:31 PM Palm Hills signs EGP 1bn facility deal with NBE
Cairo – Mubasher: Palm Hills Developments (PHD) signed a facility agreement worth EGP 1 billion with the National Bank of Egypt (NBE) through utilising receivables from the sale of “ready to move” units. The facility will enable the company to …
Orascom Investment achieved net profits of EGP 51.63 million in three months
6 September 05:24 PM FRA approves Orascom Investment’s capital change after demerger
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request to amend the authorised capital of Orascom Investment Holding (OIH) (the demerged company) to EGP 2.5 billion and Orascom Financial Holding (the demerging …
The capital will be increased by EGP 11.2 million to EGP 260 million
2 September 04:48 PM EGX approves Odin Investments’ capital raise
Cairo – Mubasher: The listing committee of the Egyptian Exchange (EGX) approved a request submitted by Odin Investments to increase its issued and paid-up capital to EGP 260 million from EGP 248.8 million.   The capital increase, amounting to EGP …
The company seeks to delist 400 million shares
1 September 05:54 PM Americana Egypt submits voluntary delisting request
Cairo – Mubasher: The Egyptian Company for International Touristic Projects (Americana Egypt) submitted a request to delist its shares from the Egyptian Exchange (EGX). The company seeks to delist 400 million shares at a nominal value of EGP 1 per …
FC Trading DMCC will be 100% owned by Arafa
31 August 02:25 PM Arafa to set up new firm in Dubai
Cairo – Mubasher: The board of directors of Arafa for Investment and Consultancies decided to establish a new company in the Dubai Multi Commodities Centre (DMCC) under the name of FC Trading DMCC. The new company will have a capital of AED …
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27 August 10:40 AM Buruj CEO, financial manager suspended
Riyadh – Mubasher: Buruj Cooperative Insurance Company has received a letter from the Saudi Arabian Monetary Authority (SAMA) restraining the firm's CEO, Samer Kanj, and financial manager, Samer Saad, from carrying out their duties in the company …
The shareholders ratified the share’s fair value at EGP 35.53
25 August 03:29 PM Nile Cotton Ginning to double capital to EGP 529.9m
Cairo – Mubasher: The shareholders of Nile Cotton Ginning approved a proposal to increase the issued capital to EGP 529.92 million from EGP 264.96 million. The company’s extraordinary general meeting (EGM) approved to double its capital by issuing …
The company’s capital will be raised to EGP 140.31 million
25 August 01:47 PM Lift Slab Misr’s board approves EGP 84m capital raise
Cairo – Mubasher: The board of directors of the Egyptian Company for Construction Development (Lift Slab Misr) decided to increase the issued capital as subscription to its capital raise was covered by 100%. The company’s capital will be raised by …
Egypt Free Shops achieved net profits of EGP 108.9 million
25 August 01:19 PM Egypt Free Shops' shareholders approve dividends for FY19/20
Cairo – Mubasher: The ordinary general meeting (OGM) of Egypt Free Shops approved the board’s proposal for a cash dividend distribution for fiscal year 2019/2020. The company’s shareholders approved a cash dividend distribution of EGP 0.995 per …
The ordinary general meeting (OGM) will be convened to approve the deal
24 August 12:13 PM MNHD approves acquisition offer for subsidiary
Cairo – Mubasher: The board of directors of Madinet Nasr Housing and Development (MNHD) approved an offer to sell its 98.4%-owned subsidiary Nasr Utilities and Installations (NUI) for EGP 30 million. A strategic investor offered to acquire MNHD’s …
The financial leasing company’s portfolio is expected to reach EGP 600 million
18 August 12:43 PM Beltone obtains licences to launch three new firms
Cairo – Mubasher: Beltone Financial Holding has obtained licences to launch three new companies for venture capital, financial leasing, and consumer finance, according to a bourse disclosure on Tuesday.   The three companies are expected to be …