HEALTHCARE-

Premium Healthcare eyes capital increase: Premium Healthcare — formerly City Lab — is looking to increase its capital to EGP 1.7 bn from EGP 81 mn currently, Mahmoud Lasheen, the representative of the company’s largest shareholder Premium Diagnostics UAE, told Al Borsa. The company is considering raising its capital through share swaps with acquired entities.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

ICYMI: The medical group announced plans last week to acquire 50% of five medicalcompanies through a mix of capital increases and a direct share purchase and fully acquire four local labs operators.

More expansions in the pipeline: The medical lab operator also plans to add 37 branches to its local portfolio next year in an EGP 122 mn expansion plan, aiming to capture 10% of the local medical analysis market, according to deputy chairman Bishoy George. The company wants to expand its presence across all of Egypt’s governorates by 2027, up from the 14 it currently operates in. Premium Healthcare also plans to double its number of labs in Jordan to 12.

PLUS- Premium Healthcare is mulling a dual listing on the Tadawul and an Emirati stock exchange within the next 2-3 years, Lasheen told Amwal Al Ghad. It is also considering listing its Saudi subsidiaries on the Saudi Tadawul within the next three years.

ENERGY-

Japanese firms to support green energy projects in Egypt: The Japan Bank forInternational Cooperation (JBIC) unveiled its plans to finance green energy projects locally — whether through direct investment or in partnership with regional investment institutions, according to a General Authority for Investment and Freezones (GAFI) readout of a meeting between GAFI head Hossam Heiba and 24 Japanese renewable energy companies.

What to watch out for: JBIC Middle East representative Kenichiro Kitamura noted that the bank plans to finance green hydrogen and green ammonia projects, while Japanese firm Sojitz Egypt expressed its interest in investing in infrastructure related to the renewables sector, “in preparation for receiving significant flows of Japanese investments in this sector.”

In related news: The US International Development Finance Corporation (DFC) is interested in offering technical support and financial services to companies planning green fuel projects in the Suez Canal Economic Zone, according to a statement.

REAL ESTATE

Magnom Properties eyes Ras El Hekma: Saudi Arabia’s Magnom Properties, a subsidiary of Rawabi Holding Group, is interested in investing in Ras El Hekma, CIO Ahmed Kassem told Al Arabiya. Magnom is currently building the Forbes International Tower in the new administrative capital, which it said will be the world’s first zero-carbon emission tower, and plans to replicate the project in Saudi Arabia and UAE as part of a plan to invest USD 5 bn across the region, Magnom’s CEO Maged Marie told Al Arabiya last week.

Tags: