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Naeem Holding for Investments owns 98% of Naeem Consulting Services
9 December 06:04 PM Reacap’s board decides to acquire Naeem Consulting Services
Cairo – Mubasher: The board of directors of Reacap Financial Investments approved the acquisition of the entire stake of Naeem Holding for Investments in Naeem Consulting Services.  The decision is still pending approval of shareholders set to …
The story of Fawry was featured in the 2019 RiseUp Summit
9 December 04:47 PM Fawry encourages startups to consider listing on EGX
Cairo – Mubasher: The story of Fawry was featured in a session titled “An IPO Story” on the third and final day of the 7th RiseUp Summit, held on 5-7 December 2019 at the American University in Cairo (AUC), under the theme “Journey to Growth.” …
Alexandria Portland incurred net losses of EGP 96.58 million in nine months
9 December 12:20 PM Major shareholder offers EGP6/shr to buy remaining shares of Alexandria Portland
Cairo – Mubasher: The board of directors of Alexandria Development Ltd has decided to submit a mandatory tender offer (MTO) to acquire the remaining shares of Alexandria Portland Cement, or 11.07% of the company’s capital shares. Despite the …
The loan will be used to resume the construction works of seven new faculties
9 December 11:55 AM Cairo Investment borrows EGP 130m from QNB Al Ahli
Cairo – Mubasher: Cairo For Investment and Real Estate Development signed a credit facility agreement worth EGP 130 million with Qatar National Bank Al Ahli (QNB Al Ahli). The loan will be used to resume the construction works of seven new …
CSCEC is building 20 towers in the new capital
9 December 11:19 AM DP World Sokhna inks deal to be Egypt’s hub for Chinese construction materials
Dubai – Mubasher: DP World Sokhna signed a trilateral partnership agreement with China State Construction Engineering Corporation (CSCEC) and China Ocean Shipping Company Limited (COSCO). Under the deal, DP World Sokhna aims to be a hub for all …
The bank's paid-up capital stands at EGP 1.5 billion
8 December 05:54 PM Al Baraka Bank – Egypt looking to raise capital to EGP 5bn in 3 yrs
By: Islam Fadl Cairo – Mubasher: Al Baraka Bank – Egypt aims to increase its paid-up capital by EGP 3.5 billion to EGP 5 billion over the next three years, the bank’s CEO Ashraf El-Ghamrawy said. The banks plans to increase its capital in order to …
Titan Cement owns an indirect majority stake in Alexandria Portland Cement
8 December 05:37 PM Titan Cement to submit MTO on Alexandria Portland Cement’s shares
Cairo – Mubasher: Alexandria Portland Cement announced that its major shareholder Titan Cement International will submit a mandatory tender offer (MTO) in the upcoming period. Talks are underway with the Egyptian Financial Regulatory Authority …
The public offering included 18.8 million shares
8 December 03:49 PM Rameda raises EGP 1.75bn in IPO
Cairo – Mubasher: The public and private offerings of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) have been executed on 376.6 million shares, representing 48.99% of the company’s capital shares, at EGP 4.66 per …
Mubasher interviewed EGX Chairman, Mohamed Farid Saleh, during RiseUp Summit 2019
8 December 03:30 PM EGX to expect more startup IPOs – Chairman Interview
Cairo – Mubasher: The Chairman of the Egyptian Exchange (EGX), Mohamed Farid Saleh, has asked all stakeholders to take part in nationwide efforts to increase public participation in the stock market, especially youth. “The value chain of any …
The company suffered net losses of EGP 6.7 million
8 December 02:20 PM ASCOM’s consolidated losses shrink 78% in 9M
Cairo – Mubasher: Asec Company for Mining (ASCOM) reported a 78% year-on-year drop in its net losses during the first nine months of 2019 on the back of rising revenue, the company's consolidated financial statements showed.  The company suffered …
Sales retreated to EGP 253.4 million
8 December 11:52 AM Hadisolb’s losses widen 106% in Q1-19/20 unaudited financials
Cairo – Mubasher: The unaudited financial results of the Egyptian Iron and Steel  (Hadisolb) showed a 106% year-on-year increase in its net losses during the first quarter of fiscal year 2019/2020. Net losses widened to EGP 367.8 million during …
This move is part of the real estate developer’s efforts to diversify its financing sources
8 December 11:21 AM Talaat Moustafa’s unit gears up to issue EGP 2bn sukuk
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) announced that its subsidiary, Arab Company for Projects and Urban Development, is finalising the required procedures to issue sukuk worth EGP 2 billion in the coming period.   This …
The company’s capital will be raised by EGP 31.25 million
5 December 05:59 PM EGX approves Rameda’s capital raise
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the request of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) to increase its issued capital to EGP 192.15 million from EGP 160.9 million. …
CIB’s capital stands at EGP 14.58 billion
5 December 04:57 PM Kenya mulls CIB’s request to acquire controlling stake in Mayfair Bank
Cairo – Mubasher: The Commercial International Bank – Egypt (CIB) plans to acquire a controlling stake in one of Kenya’s smallest banks, Reuters reported on Thursday, citing the Competition Authority of Kenya.   The Kenyan regulator said that it …
New biogas and organic fertilisers will be built
5 December 03:45 PM NBK Egypt agrees with ILO to build biogas, fertilisers units
Cairo – Mubasher: National Bank of Kuwait – Egypt (NBKE) inked a cooperation deal with the International Labor Organization (ILO) and Bioenergy for Sustainable Rural Development to establish 60 new biogas and organic fertilisers units in the …
The public offering was oversubscribed by about 36 times
5 December 01:04 PM Rameda’s stock to start trading on EGX on 11 December
Cairo – Mubasher: The surplus subscription amount of the public offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) will be refunded to investors starting from 5 December. Rameda’s stock will start trading …
Petrochemical plant
5 December 12:21 PM Sidpec targets EGP 6.9bn investments in 2020
Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) is expecting to invest an amount of EGP 6.88 billion during the fiscal year 2020. The company is expecting to spend EGP 78.8 million on replacements and upgrades in FY20, according to a bourse …
The details of the offer will be disclosed after signing the contract
5 December 11:54 AM Heliopolis Housing approves in principle Zahraa Maadi’s purchase offer
Cairo – Mubasher: Heliopolis Company for Housing and Development has approved in principle the offer submitted by Zahraa Maadi Investment and Development to purchase a 34-feddan land in New Heliopolis. The details of the offer will be disclosed …
The company aims to obtain the land plot to build a comprehensive urban project
5 December 11:09 AM Heliopolis Housing receives purchase offer for 250-feddan land
By: Abdullah Bedeir Cairo – Mubasher: A real estate company has submitted a request to Heliopolis Company for Housing and Development to buy a 250-feddan land plot in New Heliopolis, a source told Mubasher. The company aims to obtain the land plot …
Investors placed 1,816 buy orders for 683.2 million shares
4 December 05:10 PM Rameda’s public offering 36.3 times oversubscribed – Sources
Cairo – Mubasher: The public offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has been oversubscribed by 36.28 times on the last day of subscription, informed sources told Mubasher on Wednesday. Investors …
Net profits plunged to EGP 31.14 million
4 December 03:04 PM Rameda’s consolidated profit dips 59% in 9M
Cairo – Mubasher: Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) reported a of 59% year-on-year decline in consolidated net profits during the first nine months of 2019. Net profits plunged to EGP 31.14 million in …
Booking for the new flights is available on Jazeera Airways’ website
4 December 03:01 PM Jazeera Airways to start direct flights to Dammam, expands other connections
Mubasher: The leading economy airline in Kuwait Jazeera Airways announced a new flight service to Dammam in Saudi Arabia. Starting on 19 December this year, the flights will head to the capital of the Eastern Province three times a week; Tuesdays, …
Financial institutions accounted for 75% of total orders
4 December 01:53 PM Rameda’s private offering oversubscribed by 117%
Cairo – Mubasher: The private offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has been oversubscribed by 117% at EGP 4.66 per share, according to a company statement released on Wednesday. Financial …
The board decided to distribute 0.25 bonus share for every share held
4 December 01:05 PM Mohandes Insurance to raise capital by EGP 37.5m via bonus shares
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 …
Net profit went up to EGP 49.45m in 3M
4 December 12:53 PM Mohandes Insurance registers 25% YoY hike in consolidated profit Q1-19/20
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 …