Investcorp eyes USD 600 mn Abu Dhabi listing of investment vehicle: MENA alternative asset manager Investcorp Holding could raise as much as USD 600 mn through a listing this year on the ADX of Investcorp Capital, a vehicle holding assets across credit, real estate and private equity, anonymous sources have told Reuters.Other options for listing venues and fundraising are still on the table, the sources added. Investcorp is working with Goldman Sachs, First Abu Dhabi Bank, Emirates NBD and HSBC on the plan with Moelis & Co acting as financial advisor.

Investcorp? The Bahrain-based firm has some USD 50 bn of assets under management and is 20% owned by Abu Dhabi state fund Mubadala.

ALSO WORTH NOTING:

  • Another Qatar x China LNG agreement: China National Petroleum Corporation and QatarEnergy inked a 27-year agreement under which Qatar will ship some 4 mn tons of LNG a year to China. This marks the second agreement of its kind in seven months. (Financial Times)
  • China’s central bank slashes rates: The People’s Bank of China cut two of its key lending rates yesterday following signs that the country may be approaching deflation. (CNBC)
  • Are you sure you want to unsubscribe? Amazon is being sued by the US Federal Trade Commission for enrolling customers into Amazon Prime without their consent and making the subscription difficult to cancel. (WSJ)

EGX30

17,706

-1.2% (YTD: +21.3%)

USD (CBE)

Buy 30.84

Sell 30.96

USD at CIB

Buy 30.85

Sell 30.95

Interest rates CBE

18.25% deposit

19.25% lending

Tadawul

11,466

+0.3% (YTD: +9.4%)

ADX

9,490

+0.3% (YTD: -7.0%)

DFM

3,782

+0.2% (YTD: +13.4%)

S&P 500

4,372

-0.4% (YTD: +14.1%)

FTSE 100

7,559

-0.1% (YTD: +1.4%)

Euro Stoxx 50

4,323

-0.5% (YTD: +14.0%)

Brent crude

USD 77.00

+1.5%

Natural gas (Nymex)

USD 2.60

+4.2%

Gold

USD 1,932.54

+0.0%

BTC

USD 29,914

+6.3% (YTD: +81.2%)

THE CLOSING BELL-

The EGX30 fell 1.2% at yesterday’s close on turnover of EGP 1.8 bn. Local investors were net buyers. The index is up 21.3% YTD.

In the green: Abu Dhabi Islamic Bank (+1.0%), GB Corp (+0.9%) and Elsewedy Electric (+0.5%).

In the red: Ibnsina Pharma (-4.0%), Credit Agricole (-3.3%) and Madinet Masr (-2.8%).

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