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The capital raise is divided over 492.560 million bonus shares
29 July 05:54 PM CIB submits request to list EGP 4.9bn capital raise shares
Cairo - Mubasher: The Commercial International Bank-Egypt (CIB) has submitted a request to list its capital raise shares on the Egyptian Exchange (EGX). The request includes raising the issued and paid-up capital by EGP 4.925 billion to EGP 19.207 …
Two monorail lines will be built in the New Administrative Capital and Sixth of October City.
29 July 05:08 PM Egypt approves EGP 3.4bn for monorail electricity supply works
Cairo - Mubasher: The Egyptian Cabinet announced the Ministry of Planning and Economic Development's approval for the allocation of EGP 3.448 billion for the electricity supply works of the monorail project.  Two monorail lines will be constructed …
The Russian industrial zone has been expanded by 5 million sqm
29 July 04:34 PM Russian expands industrial zone in SCZone
Cairo - Mubasher: Egypt has successfully concluded talks with Russia to expand the Russian industrial zone inside the Suez Canal Economic Zone (SCZone) to include East Port Said and Ain Sokhna.  The definitive agreement will be signed by the end …
Minister of Finance Mohamed Maait
29 July 03:59 PM Egypt's government investments up 50.5% in FY20/21
Cairo - Mubasher: Egypt's government investments surged by 50.5% year-on-year (YoY) to EGP 289 billion during fiscal year (FY) 2020/2021.  Allocations for government investments in FY21/22 amounted to EGP 358.1 billion as the public …
Sales increased to EGP 396.1 million in H1-21
29 July 03:39 PM EFIC’s profits surge 248% in H1-21
Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC)  achieved a jump of 248% in its standalone net profits to EGP 37.39 million in the first half (H1) of 2021 from EGP 10.7 million in H1-20. Sales increased to EGP 396.1 million in …
The market cap of the shares owned by Arzan VC 2 has reached $11.226 million
29 July 03:24 PM Kuwait's Arzan VC 2 invests $1.076m in Swvl's shares
Mubasher: Arzan Capital Holding Limited announced that Arzan VC 2 has invested $1.076 million in the shares of the ridesharing app Swvl, which has entered into a definitive agreement for a business combination with Queen's Gambit Growth Capital.  …
The revenues increased to EGP 537 million in the year ended 30 June
29 July 01:53 PM Arab Drug logs EGP 102m profit in FY20/21
Cairo - Mubasher: Arab Drug Company achieved net profits of EGP 102 million in fiscal year (FY) 2020/2021, up by 9.9% year-on-year (YoY) from EGP 92.8 million, the unaudited financial results showed.  The revenues increased to EGP 537 million in …
Kima exported 130,000 tones of agricultural urea fertilisers
29 July 01:22 PM Kima exports fertilisers worth $40 million in four months
Cairo - Mubasher: The Egyptian Chemical Industries (Kima) has entered new markets to export fertilisers amid the current global competition.  Kima exported 130,000 tones of agricultural urea fertilisers with a value of $40 million during the …
The company generated EGP 480.5 million in revenue
29 July 01:00 PM Misr Chemical Industries reports 108% higher profit in FY20/21
Cairo - Mubasher: Misr Chemical Industries reported a 108% year-on-year (YoY) leap in its net profits to EGP 132.5 million in fiscal year (FY) 2020/2021, compared to EGP 63.7 million, the unaudited financial results showed.  The company generated …
The transaction involved the purchase of 20.83 million shares
29 July 12:31 PM Equinox Pharma ups stake in Rameda for EGP 58.5m
Cairo - Mubasher: Equinox Pharma Holding Limited raised its stake in Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) to 15.39% from 12.68%. The transaction involved the purchase of 20.83 million shares for …
The revenues declined to $28.77 million during the February-April period
29 July 12:12 PM Arafa's loss widens 6,775% in three months
Cairo - Mubasher: Arafa for Investment and Consultancies reported a 6,775% year-on-year (YoY) surge in its consolidated net losses to $9.9 million in the February-April period, compared to $144,009.  The revenues declined to $28.77 million during …
The sales amounted to EGP 7.83 million in June
29 July 11:07 AM Iron and Steel for Mines and Quarries records EGP 23m sales in three months
Cairo - Mubasher: Iron and Steel for Mines and Quarries achieved EGP 23.33 million in sales during the April-June period. The sales amounted to EGP 7.83 million in June, EGP 5.42 million in May, and EGP 10 million in April, the company said in a …
Minister of Finance Mohamed Maait
29 July 10:53 AM Egypt receives 1,600 applications for third phase of export subsidy initiative
Cairo - Mubasher: The Egyptian Minister of Finance, Mohamed Maait, said that more than 1,600 companies have applied for the third phase of the immediate disbursement of export subsidies initiative since 4 July. Payments will be made starting from …
The issuance will be used to finance the country’s budget deficit
29 July 10:40 AM CBE offers EGP 21bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 21 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP …
The revenues declined to EGP 1.136 billion in the six-month period
28 July 05:54 PM Delta Sugar's profit jumps 559% in H1-21
Cairo - Mubasher: Delta Sugar recorded a 559% year-on-year (YoY) surge in its net profits to EGP 343.89 million in the first half (H1) of 2021, compared to EGP 52.13 million, the unaudited financial results showed.  The company ascribed the profit …
The company will spin off its consumer healthcare business
28 July 05:40 PM GSK Egypt hires Grant Thornton to assess consumer healthcare assets
Cairo - Mubasher: The board of directors of GlaxoSmithKline (GSK Egypt) decided to hire Grant Thornton Egypt as an independent financial advisor to assess the fair value (FV) of its intangible and movable consumer healthcare assets, excluding …
The transaction involved the trading of 5.21 million shares
28 July 05:24 PM RIMCO ups stake in EFG Hermes for EGP 60m
Cairo - Mubasher: RIMCO EGT Investment LLC has raised its stake in the Egyptian Financial Group Hermes Holding (EFG Hermes) to 10.54% from 9.97%. The transaction involved the trading of 5.21 million shares for EGP 60.13 million, averaging EGP …
Banque Misr will contribute EGP 650 million to the loan
28 July 04:56 PM Banque Misr, BM Lease ink EGP 700m Musharaka deal
Cairo - Mubasher: Banque Misr and BM Lease signed a medium-term Musharaka finance agreement worth EGP 700 million with Bonyan for Development and Trade. Banque Misr will contribute EGP 650 million or 93% to the seven-year loan, while BM lease will …
Engineering designs for electromechanical works are being prepared
28 July 04:27 PM I-CON nears EGP 1.2bn electromechanical contracts with Minka Development
Cairo - Mubasher: I-CON MEP Engineers, a mechanical, electrical, plumbing (MEP) and home automation building service provider, is close to signing a contract with Minka Development to design and implement electromechanical works for "The Hoft" …
28 July 04:03 PM Pfizer’s sales of COVID-19 shots hit $7.8bn in Q2-21
Executive Director of GAFI meets with the CEO of Kemin, majority shareholder of MEVAC.
28 July 03:48 PM MEVAC to invest EGP 1.8bn in building three vaccine factories in Egypt
Cairo - Mubasher: MEVAC For Vaccines aims to inject EGP 1.8 billion in new investments into the establishment of three veterinary and human vaccine factories over the coming three years, the CEO Magdy El-Sayed said.  The company also plans to …
This partnership will enable Trella to offer enhanced trucking productivity and efficiency
28 July 01:57 PM ExxonMobil Egypt enters into strategic collaboration with Trella
Cairo – Mubasher: ExxonMobil has signed a collaboration and framework agreement with Trella to bring digital innovation to the trucking industry in Egypt. The collaboration aims to provide innovative solutions and tech-fueled growth, marking …
The deal involved the trading of 10.221 million shares
28 July 01:52 PM Raya Holding sees EGP 30m deal on Wednesday
Cairo - Mubasher: Raya Holding for Financial Investments witnessed a new transaction worth EGP 30.255 million on its shares on the Egyptian Exchange (EGX). The deal involved the trading of 10.221 million shares under the employee stock ownership …
The EGX30 index witnessed the exclusion of seven companies
28 July 01:42 PM Mopco, CIRA, Raya among companies joining EGX30 index as of 1 August
Cairo - Mubasher: The Egyptian Exchange (EGX) has completed the semi-annual periodic review of its indices, according to a statement on Wednesday. The review, effective as of the beginning of August, applies the new EGX30 index methodology which …
Oilseeds and oleaginous fruits topped Egypt's imports from the US
28 July 12:56 PM Egypt's imports from US drop 6% in 2020 - CAPMAS
Cairo - Mubasher: Egypt's imports from the US fell by 6.1% to $4.693 billion in 2020, compared to $4.999 billion in 2019, according to a report released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Wednesday.  Oilseeds …