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We are in the full swing of the summer news slowdown, folks. But what little is happening these days is significant — not least of which is Fawry’s in-the-works IPO. The subscription period for the private placement portion of the e-payments platform’s initial public offering will wrap up later today. The retail offering is also […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Day one of the National Youth Conference occupies Egypt’s talking heads
The launch of the two-day National Youth Conference at the new capital yesterday was in the limelight on last night’s talk shows. Al Hayah Al Youm’s Khaled Abu Bakr zoned in on President Abdel Fattah El Sisi’s speech, in which the president lauded Egyptians for their patience amid the reforms that have been ongoing since […]
Posted inSpeed Round
Egypt Kuwait Holding closer to acquiring Emisal Salts
M&A WATCH- EKH closer to acquiring Emisal Salts: Egypt Kuwait Holding has reached an agreement with the National Bank of Egypt (NBE) and the Chemical Industries Holding Company (CIHC) to acquire a 52.8% stake in Emisal Salts, unnamed sources told Al Mal. NBE, the largest shareholder in Emisal, will sell its entire 49.8% stake and […]
Posted inSpeed Round
Egyptian payments platform Fawry’s retail component 32.5% subscribed on third day
IPO WATCH- Fawry’s retail offering 32.5% subscribed o day three: The retail component of Fawry’s ongoing IPO was 32.5% subscribed at the close of yesterday’s trading session, according to a local press report. Retail investors requested some 11 mn shares from a total of 35 mn up for grabs. The e-payments platform received yesterday nearly […]
Posted inSpeed Round
Mondelēz to open up new product line in Egypt “in coming phase”
INVESTMENT WATCH- Mandolin maker Mondelēz to launch new product line in Egypt: Snack-maker Mondelēz International plans to open a new product line in Egypt “in the coming phase,”Managing Director of North Africa & Levant Bilal Sharabati said, according to Mubasher. Sharabati did not provide more details on the expected timeframe, or disclose the investment cost […]
Posted inSpeed Round
Dana Gas confirms it hired financial advisors to look at Egypt exit
Dana Gas confirms hiring financial advisors for the potential sale of Egypt assets: Dana Gas confirmed reports earlier this week that it has hired financial advisors to study the possibility of selling down its Egypt asset portfolio in a bourse filing (pdf) on Tuesday. “The company is undertaking a strategic review of its Egyptian oil […]
Posted inSpeed Round
Fas Energy to invest USD 500 mn in waste energy plant
INVESTMENT WATCH- Fas Energy to invest USD 500 mn in waste energy plant: Saudi-based Fas Energy is planning to invest USD 500 mn to construct a waste-to-energy plant in 10th of Ramadan City under an MoU with the New Urban Communities Authority (NUCA), according to a company statement Mubasher picked up. The plant’s capacity will […]
Posted inSpeed Round
Canal Sugar plans new USD 200 mn grain terminal in Damietta
INVESTMENT WATCH- Canal Sugar plans new USD 200 mn grain terminal in Damietta: Al Ghurair Group’s Canal Sugar is planning to invest USD 200 mn in constructing a pier and grains terminal in Damietta, CEO Islam Salem said at a press conference, according to Reuters. The terminal will discharge 3k tonnes of grains per hour. […]
Posted inSpeed Round
MENA fund managers are keeping their Egypt investments unchanged for now
MENA-based fund managers are keeping their allocations to Egypt unchanged over the next period, according to a Reuters poll. The last poll from the newswire published at the end of last month had indicated that over a quarter of fund managers planned to increase their exposure to Egypt over the next three months. It remains […]