Your top 5 pieces of business and economic news in May 2021

Your top 5 pieces of business and economic news in May:

• IPO Watch: LSE-listed Integrated Diagnostics Holding’s (IDH) shares began trading on the EGX in May after the company completed Egypt’s first ever technical listing.
• M&A Watch: EFG Hermes and the Sovereign Fund of Egypt have agreed to acquire a 76% stake in the Arab Investment Bank.
• M&A Watch: Cleopatra Hospitals’ will not acquire Alameda Healthcare after negotiations between the companies collapsed.
• Record pre-seed funding: Logistics startup Flextock set a new regional record for pre-seed funding after it received USD 3.25 mn from several local and international VC funds.
• PMI: Growth in Egypt’s private sector continued to stagnate in April as demand, production and employment all fell.