Good afternoon, friends. The weather is cooling down, but the press is heating up. This issue is packed with news of IPOs, public holidays, Big Tech shakeups, and the survival of planet Earth.

MASHREQ CONCLUDES ITS GLOBAL CLEANUP PROJECT IN EGYPT

Mashreq wraps up its Climb2Change environmental cleanup in Wadi Degla: Our friends at Mashreq have officially finished their clean-up of three designated zones in Wadi Degla, as part of Mashreq’s wider Climb2Change global ESG initiative focused on sustainability-linked financing and environmental preservation, the bank said in a press conference attended by EnterpriseAM today. Led by esteemed Egyptian adventurers Omar Samra and Manal Rostom, the project’s Wadi Degla initiative removed nearly 2.2k tonnes of general waste and 120 tonnes of construction waste from the area, with Mashreq employees and external volunteers contributing a total of 809 hours to the cleanup.

THE BIG STORY TODAY

Bonyan on the verge of securing approval to list its shares on the EGX: Compass subsidiary Bonyan could secure approval from the EGX’s listing committee to temporarily list its shares on the EGX tomorrow, ahead of an IPO in 1Q, unnamed sources tell Al Mal. Bonyan, which is planning to list 1.65 bn shares at a par value of EGP 1 a pop, expects to raise between USD 120-150 mn — some EGP 6-8 bn — from the listing, making the offering one of the largest the EGX has ever seen, the sources told Al Mal.

Remember: Bonyan first revealed in July that it was planning to offer a USD 120 mn stake — some EGP 5.8 bn — in an IPO on the EGX by the end of 2024, with reports in August suggesting that the company was targeting raising between EGP 7-8 bn through the IPO.

ADVISORS- CI Capital and Arqaam Capital are acting as managers, while law firm Matouk Bassiouny & Hennawy is offering legal counsel.

PSA

This year, the 25 January holiday will fall on… a Saturday. Public and private sectors will receive a paid official holiday during the standard weekend in observance of the 2011 revolution and National Police Day on Saturday, 25 January, Prime Minister Moustafa Madbouly announced in a statement today.

THE BIG STORY ABROAD

It’s a busy day in the int’l press, with several stories taking center stage as the world eagerly awaits updates on a possible ceasefire agreement today between Israel and Hamas following news that Hamas has accepted the terms of Qatar’s proposed agreement.

Trump could have been convicted on election interference charges: A report produced by the former US special counsel in charge of the federal cases against US president-elect Donald Trump has found that Trump could have been convicted at trial for interference in the US’ 2020 elections. US special counsel Jack Smith — who resigned from his position Sunday amid concerns over retribution from an incoming Trump administration — stated in the report that the incoming president engaged in an “unprecedented criminal effort” to retain power following his 2020 election loss. Smith also noted that the investigation had collected sufficient evidence to secure a conviction, had the case not been scuttled by Trump’s re-election. (Financial Times | Reuters)

Over in the EU, the European Commission is reevaluating its investigations into Big Tech ahead of Donald Trump’s inauguration, with observers citing concerns of further pressure from US tech giants and the incoming US president, the Financial Times reports.

And speaking of Big Tech — TikTok is reportedly mulling offloading its US operations to Elon Musk if the company fails to prevent a controversial US ban, Bloomberg reports.

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

• Raseedi acquires Kashat: Fintech startup Raseedi has acquired Kashat — as well as its subsidiary, nano-financial services provider Pharos Microfinance — for an undisclosed sum, in what the firm described as “an equity deal to broaden its product offerings and introduce instant loans” to its portfolio.
• The Finance Ministry is preparing to release the new public debt policy document by the end of March, which will outline its plans for public and foreign debt — including the issuance of green bonds, sukuk, and international bonds.
• European glass fiber producers have filed a complaint with the European Commission alleging that Chinese glass fiber manufacturers based in Egypt have been benefiting from unfair subsidies and have managed to bypass anti-dumping duties.

☀️ TOMORROW’S WEATHER- The mercury is taking a slight dip in the capital tomorrow with highs of 22°C before dropping to 13°C later in the evening.