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20 January 04:54 PM EGX announces move of Marseilia’s shares to main market
Cairo – Mubasher: The Egyptian Stock Exchange (EGX) has announced the transfer of Marseilia Almasreia Alkhalegeya Real Estate Investment’s shares from the small- and medium-sized enterprises (SMEs) market to the main market. This move has raised …
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20 January 02:04 PM Fawry plans EGP 800m capital raise, US listing
Cairo – Mubasher: The board of Fawry for Banking Technology and Electronic Payments has approved to increase its issued capital by EGP 800 million and explore a listing in the US in connection with a potential SEC-registered secondary offering. …
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20 January 12:37 PM AMOC turns to profitability in H1-21/22
Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) has achieved consolidated net profits of EGP 407.5 million during the first half (H1) of fiscal year (FY) 2021/2022, against net losses of EGP 42.56 million in the year-ago period, according …
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20 January 12:03 PM Elsewedy Electric's unit inks EGP 686m contracts to implement project in Kuwait
Cairo – Mubasher: Egytech Cables, a 99.98%-owned subsidiary of Elsewedy Electric Company, has inked two contracts worth KWD 13.2 million (EGP 686 Million) with the Public Authority for Housing Welfare in Kuwait. Under the 18-month contracts on a …
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20 January 12:59 AM IHC sets up subsidiary to launch Rebound Plastic Exchange
Abu Dhabi – Mubasher: International Holding Company (IHC) has established a new subsidiary, dubbed Rebound Ltd, to launch Rebound Plastic Exchange as an innovative solution that aims to reduce the world’s plastic pollution. Rebound Plastic …
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19 January 04:51 PM Egypt Free Shops records EGP 95m standalone net profits in H1-21/22
Cairo – Mubasher: Egypt Free Shops achieved a surge of 41.9% in its standalone net profits after tax to EGP 95.38 million during the first half (H1) of fiscal year (FY) 2021/2022, compared to EGP 67.20 million in H1-20/21. Sales increased to EGP …
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18 January 04:35 PM ElSaeed Contracting wins EGP 700m project in Sohag
Cairo - Mubasher: ElSaeed Contracting and Real Estate Investment Company has been assigned a new project with an estimated value of EGP 700 million. The Egyptian listed company will build several premises in Sohag city, according to a recent …
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17 January 01:45 PM Giza Contracting wins EGP 752m project in 10th of Ramadan City
Cairo - Mubasher: Giza General Contracting and Real Estate Investment Company has been awarded a new project with an estimated value of EGP 752 million.  The company will construct multiple buildings in the 10th of Ramadan City, according to a …
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17 January 12:30 PM HD Bank sees EGP 13m block trading deal
Cairo – Mubasher: The Egyptian Exchange (EGX) has announced a block trading deal worth EGP 13.44 million on the shares of the Housing and Development Bank (HD Bank). The block trading deal was implemented on 280,000 of HD Bank's shares, according …
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17 January 11:13 AM Orascom Construction adds $785m awards to backlog in Q4-21
Mubasher: Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, has added new contracts worth $785 million to its backlog in the fourth quarter (Q4) of 2021. This step has raised the total number of new awards by 22% …
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16 January 05:03 PM FRA approves Al Shams Housing’s capital increase
Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Al Shams Housing and Urbanization to increase its capital. The listed company's disclosure includes an EGP 45.37 million rise in …
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16 January 01:00 PM Arab Polvara's losses retreat 38% in 2021
Cairo – Mubasher: Arab Polvara Spinning and Weaving (APSW) recorded a 38.4% decline in net losses to EGP 11.48 million in 2021, compared to EGP 18.66 million in 2020. The company generated revenues of EGP 41.8 million in 2021, up 39.92% from …
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16 January 11:56 AM Mansoura Poultry's EGM approves capital increase to EGP 97m
Cairo – Mubasher: The extraordinary general meeting (EGM) of Mansoura Poultry has agreed on an issued capital increase to EGP 97.44 million from EGP 81.2 million, which will be financed from 2020 profits. The company will increase its …
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13 January 12:33 PM NMDC wins AED 79m project at Egypt's Safaga Port
Mubasher: The National Marine Dredging Co (NMDC) has been awarded the dredging works project at the entrance to the navigation channel and the trench of the quay wall in Safaga Port in Egypt in exchange for around AED 79 million. The project is …
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12 January 03:10 PM Kima records EGP 350m net profits in initial Q2-FY21/22
Cairo – Mubasher: The initial financial results for the Egyptian Chemical Industries (Kima) during the second quarter (Q2) of fiscal year (FY) 2021/2022 indicated a net profit of EGP 350 million, according to a bourse disclosure on Wednesday. Kima …
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12 January 11:18 AM Elsewedy Electric's unit inks EGP 443m contract for project in New Administrative Capital
Cairo – Mubasher: Elsewedy Electric for Trading and Distribution, a 99.8% subsidiary of Elsewedy Electric Company, has signed an EGP 443.4 million contract for a five-month project in the New Administrative Capital. Under the contract, the company …
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11 January 11:35 AM Amer Group's board approves capital cut to EGP 903m
Cairo – Mubasher: The board of Amer Group Holding Co has approved to cut issued and paid-up capital by EGP 100.31 million to EGP 902.79 million from EGP 1.003 billion. The company will decrease its capital by canceling 100.31 million treasury …
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9 January 03:21 PM Al Shams Housing awards part of NAC project to Olive Tree
Cairo – Mubasher: The board of Al Shams Housing and Urbanization approved a recommendation of awarding a contract to Olive Tree Development for E4 land plot, which is part of the R7 residential community in its project in the New Administrative …
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9 January 02:59 PM Porto Group’s EGM nods to changing company name
Cairo – Mubasher: The shareholders of Porto Group Holding approved to change the name of the company to Arab Developers Holding Company. The decision was taken during the extraordinary general meeting (EGM) that was held on 9 January. It is worth …
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9 January 11:22 AM Mopco appoints new Chairman
Cairo – Mubasher: The board of Misr Fertilizers Production Company (Mopco) has appointed Ibrahim Abdel Kader Mekky Mahgoub as the company's Chairman and Managing Director. The new Chairman will replace Hesham Nour El-Din as of the appointment …
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6 January 04:45 PM Dana Gas’ collections from Egypt, KRI leap 107% in 2021
Abu Dhabi – Mubasher: Collections of Dana Gas from Egypt as well as the Kurdistan Region of Iraq (KRI) jumped by 107% year-on-year (YoY) to $377 million (AED 1.38 billion) in 2021 from $182 million (AED 667 million), according to a bourse …
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4 January 12:13 PM Al Yamamah Steel inks SAR 292m contracts to supply steel towers
Riyadh – Mubasher: Al Yamamah Steel Industries Company has inked two contracts worth SAR 292 million ($78 million) with Hyundai Engineering & Construction Co to supply steel towers for electricity transmission lines. Under the 12-month …
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3 January 08:03 PM October Pharma targets EGP 135m net profits in 2022
Cairo – Mubasher: The board of October Pharma approved the estimated budget for 2022, expecting a net profit after tax worth EGP 135 million by the end of the year. The company also targets sales worth EGP 775 million this year, according to a …
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3 January 12:11 PM Al Baraka Bank-Egypt targets EGP 1.41bn profits in 2022
Cairo – Mubasher: Al Baraka Bank-Egypt plans to achieve net profits of EGP 1.41 billion in 2022, as part of its budget plan, according to a bourse filing on Monday. The bank will also target EGP 8.04 billion in revenues in 2022. It is noteworthy …
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2 January 04:17 PM Pachin's consolidated profits plunge in Q1-FY21/22
Cairo – Mubasher: The consolidated net profits of Paint and Chemicals Industries (Pachin) plunged to EGP 1.58 million in the first quarter (Q1) of fiscal year (FY) 2021/2022, compared to EGP 20.06 million in the year-ago period. The company's …