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Posted inGO WITH THE FLOW

What the markets are doing on 27 December, 2022

The EGX30 fell 0.5% at today’s close on turnover of EGP 1.29 bn (16.8% below the 90-day average). Foreign investors were net sellers. The index is up 21.2% YTD. In the green: Ibnsina Pharma (+3.0%), Cleopatra Hospitals (+2.8%) and Sidi Kerir Petrochemicals (+2.4%). In the red: Palm Hills Development (-3.4%), Alexandria Containers and Cargo Handling […]

Posted inCALENDAR

DECEMBER 31 December (Saturday): E-invoicing registration deadline. December: Egypt to expand Sudan electricity link capacity to 300 MW. JANUARY 2023 January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time. January: Fuel pricing committee meets to decide quarterly fuel prices. January: Infinity + Africa Finance Corporation to close acquisition of Lekela […]

Posted inWhat We're Tracking Today

THIS MORNING: Central bank announces exemptions for FX withdrawal limits

Good morning, good people: We’re continuing our 2022 rewind today, looking back at the year in M&A, investment and capital markets. PSA: You’re reading the penultimate EnterpriseAM issue of 2022. We’re giving ourselves a well-earned three-day weekend to take us into the New Year, meaning that Wednesday will be the final time we appear in […]

Posted inUncategorized

31 December: Disco Mania, a new commercial concept at Somabay Theater: Somabay always ends the year in the absolute best way possible. Our new year’s weekend is bound to be explosive this year. We’ve come up with some of your favorite concepts over the past years and we’re back for a whole new commercial concept […]

Posted inM&A WATCH

The bidding war for Pachin is heating up again

Yet another bidder vying for Pachin: Eagle Chemicals wants to acquire 100% of Paint and Chemical Industries (Pachin) for EGP 29.5 a share, the highest offer Pachin has received yet, according to an EGX disclosure (pdf) filed by the Financial Regulatory Authority yesterday. The bid is a 1.7% premium to the UAE’s National Paints Holdings’ […]

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