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IPO WATCH- Hassan Allam Holding puts IPO on the shelf for now: Leading construction and engineering group Hassan Allam has suspended its plans for an initial public offering on the EGX, sources with knowledge of the matter told Al Mal. The company had been testing the waters for a possible 1H2019 offering in what some […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Speed Medical to debut on EGX in six months after upcoming NileX IPO
IPO WATCH- Speed Medical is planning to IPO on the EGX within six months of listing of 25% of its shares on NileX, Chairman Mahmoud Lasheen tells Al Mal. The listing plans come as the company looks to raise funding to complete its EGP 180 mn hospital in Obour City on the Ismailia Desert Road, […]
Posted inSpeed Round
Central Bank of Egypt, Misr Clearing working on regs for derivatives trading
REGULATION WATCH- EGX, Misr Clearing working on regulations for derivatives trading: Misr for Central Clearing, Depository & Registry (MCDR) and the EGX are finalizing the regulations and infrastructure needed to launch derivatives trading in Egypt, MCDR Chairman Mohamed Abdel Salam tells Al Mal. Derivatives trades will be settled through a new electronic platform, according to […]
Posted inSpeed Round
Amer Group shareholders reject board’s decision to delist from EGX
Amer Group minority shareholders say no to delisting decision: Minority shareholders of developer Amer Group shareholders have said no to a plan driven by the company’s board of directors to voluntarily delist from the EGX, Al Mal reported. The Financial Regulatory Authority (FRA) had decided that only minority shareholders would be able to vote at […]
Posted inSpeed Round
FRA agrees to membership requirements for planned sukuk supervisor
REGULATION WATCH- FRA agrees to membership requirements for planned sukuk supervisory committee: The Financial Regulatory Authority’s (FRA) board of directors has agreed to the requirements needed to sit on the planned sukuk supervisory committee, it said in a statement. The central supervisory committee would be made up of nine top shari’a experts as well as […]
Posted inSpeed Round
Earnings watch: Orascom Construction reports 2018 results
EARNINGS WATCH- Orascom Construction (OC) reported net income attributable to shareholders in 4Q2018 of USD 33.1 mn, up 635.6% y-o-y from USD 4.4 mn in the comparable period last year. Full-year net income came in at USD 144.7 mn in 2018, up 84.3% y-o-y from USD 78.5 mn in 2017. Revenues for the year came […]
Posted inSpeed Round
Audi CEO Fayed steps down
MOVES- Mohamed Abbas Fayed (bio) has resigned as CEO and managing director of Bank Audi, effective end-April, Al Mal reports. The former Banque Misr top executive joined Audi in 2014 as vice chairman and managing director. His resignation comes as the bank is finalizing its bid to acquire the Egyptian unit of the National Bank […]
Posted inSpeed Round
National Bank of Kuwait CEO Hassan steps down
MOVES- Yasser Ismail Hassan will step down as managing director of the National Bank of Kuwait effective from mid-May, Hassan told the local press. He will now head to London to become the CEO of the National Bank of Egypt’s UK branch, according to sources. Hassan joined the bank in 2001 as senior general manager, […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Actors Khaled Abol Naga and Amr Waked expelled from Egypt’s film union for criticizing constitutional amendments
Leading the conversation in the international press this morning: Actors Khaled Abol Naga and Amr Waked were expelled from the Egyptian film union, which effectively accused them of treason on Tuesday after they took part in a public panel discussion in Washington where they were critical of proposed amendments to the Egyptian constitution, AP reports. […]