Good afternoon, wonderful people. It’s a relatively calm Monday so far, but the news cycle may very well pick up in the next few hours.

THE BIG STORY TODAY

ADES reveals the ins and outs of its planned IPO: Cairo-born regional oil and gas services company ADES International has announced its intention to float (pdf) on the Saudi Exchange. The company is planning to offer a 30% stake — represented in 338.7 mn shares — with the aim of raising some USD 1 bn, according to Bloomberg estimates.

THE BIG STORY ABROAD

The international business press can’t agree on one story today, leaving us with a few things to keep ourselves occupied:

  • Evergrande’s shares have plummeted a whopping 87% after it started trading on the Hong Kong Exchange after a 17-month hiatus. China’s most heavily-indebted property developer has been suspended from trading since March 18, 2022 and is reentering the market at the time where the Chinese property market is facing several challenges. (Reuters | CNBC | Financial Times)
  • UAE joining Brics won’t undermine the Gulf nation’s relationship with the US, as it sees this as a chance to increase trade and contribute to the NDB, the Brics bank, which works on lending money for development projects in emerging markets. (Bloomberg)

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • A new package of incentives for industrial projects: President Abdel Fattah El Sisi yesterday instructed the Madbouly Cabinet to implement a fresh package of incentives to support industrial activity and accelerate localization.
  • Up to 10 oil and gas concessions could be up for grabs soon : The Oil Ministry plans to launch an international tender for companies to explore for oil and natural gas in 8-10 concessions.
  • Back to the negotiating table on Ethiopia’s mega-dam: Delegations from Egypt, Ethiopia, and Sudan met in Cairo yesterday Sunday to begin a new round of talks to find a solution to their long-running dispute over the Grand Ethiopian Renaissance Dam.

CHECK OUT OUR AGENDA-

The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

This is our first two-day event,which should give us plenty of time to dive into the nitty gritty of this industry we love. Our panels will see CEOs, bankers, investors and founders gather to discuss the future and trends shaping banking, finance, fintech and NBFS.

Our full agenda will be out at month’s end. Among the topics we’ll be discussing:

  • Looking into the crystal ball: Top industry CEOs will join us on stage to answer tough questions on where we are as an industry, the forces that will shape all of our businesses going forward, and their views on dealflow in the year ahead.
  • Surviving nuclear winter: We discuss how private equity and venture capital players are tackling challenges including fundraising and deployment in an environment in which it’s awfully difficult to price your local asset in USD terms.
  • The robots are coming: We explore what the coming AI and big data means for the industry in our part of the world and what can bankers, NBFI, and fintech players do to capitalize on them.
  • What do you do when nobody wants to be a banker — and when those who are already (investment or commercial) bankers are either (a) dreaming of doing their own startup or (b) moving to Dubai (or, increasingly, Riyadh)? We go deep into the weeds with industry leaders on how they’re building talent for tomorrow.
  • NBFIs are a bubble. Prove me wrong: We chart the explosive rise of NBFIs and ask whether the industry is ready for a wave of consolidation. We’ll dive into whether consumer finance is starting to mature as a segment — and ask which sector is next.
  • What does 2024 hold in store for fintech: We dive deep into which categories are getting traction, which segments will account for the lion’s share of future growth, what business they would start today if they could, and what we can expect of the sector in the year ahead.
  • What’s a bank, anyway? Wherein we talk challenger and neobanks with the players looking to shake up the brick-and-mortar industry.

** NEW: MORE NETWORKING TIME- Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise.

STAY TUNED for more detail about our exciting agenda in the weeks to come.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.

Do you want to become a commercial partner? Ping a note to Moustafa Taalab, our head of commercial.

☀️ TOMORROW’S WEATHER- The mercury will climb to 39°C at its peak in the daytime and dip to 25°C at night, according to our favorite weather app.

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