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IPO WATCH- IPO activity in Egypt and the rest of North Africa rose 115% in 2018, but 2019 looks like it’s going to be a bit slower -PwC: IPO activity was up 115% y-o-y last year in value terms in Egypt, Morocco, Tunisia, and Algeria, according to PwC’s annual Capital Markets Watch report (pdf). The […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Orange Egypt mulling a return to EGX, to invest EGP 5.3 bn this year
IPO WATCH- Orange Egypt mulls re-listing, plans to invest EGP 5.3 bn this year: Our friends at Orange Egypt are looking into a potential return to the EGX, CEO Yasser Shaker tells Reuters. The company’s board of directors agreed to voluntarily delist from the exchange last year after failing to meet the EGX’s new requirements […]
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Egypt bourse plans establishing real estate index
The Egyptian Stock Exchange is planning to establish a real estate index that has companies’ performance and unit prices, EGX Chairman Mohamed Farid said during an AmCham conference, according to Al Mal. The index is intended to make accurate data available on the prices of different types of development across the country, as well as […]
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Cleopatra completes acquisition of El Katib, moves ahead with Queens
M&A WATCH- Cleopatra completes acquisition of El Katib, adds 100 beds: Cleopatra Hospitals Group (CHG) has completed its acquisition of the assets of El Katib Hospital in Dokki, adding 100 beds to its inpatient capacity, according to the group’s annual report (pdf). Alongside the added capacity, the move will see Cleopatra inaugurate a urology center […]
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Government considers issuing local bonds with changing yields
EXCLUSIVE- Egypt considers tying local bond yields to CBE corridor rates: The government is considering tying the yields on local bond issuances to inflation or the central bank’s corridor rate, a senior government official told Enterprise. The move could reduce the state’s debt service burden, according to the source. Also currently under consideration is a […]
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Egypt’s tourism industry grew 16.5% in 2018, says WTTC
Egypt’s tourism industry grew 16.5% in 2018, according to new data by the World Tourism & Travel Council. The industry now accounts for 11.9% of GDP and 9.5% of total employment or some 2.5 mn jobs. International visitors spent EGP 218.1 bn in Egypt last year, with Germans accounting for the single largest bloc of […]
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Maridive Oil Services turned in net profit of USD 14 mn in FY2018
Maridive Oil Services turned in a net profit of USD 14 mn (-40% year-on-year) in FY2018 on revenues of USD 208 mn (-13%) in a year in which “E&P spending bottomed out and daily charter rates in our industry hit historic lows,” the company said in a regulatory filing (pdf). Revenues contributed by the company’s […]
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Egypt leaps 10 places to rank #95 in the 2018 Global Innovation Index
Egypt leaps 10 places to rank #95 in the 2018 Global Innovation Index: Egypt is the most improved country in the North Africa/West Asia region in the 2018 Global Innovation Index, moving up 10 places to #95 in the global rankings from last year. The report notes that Egypt has exceeded its expected performance as […]
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Supply Ministry to begin third phase of purging Egypt’s subsidy rolls in April
The Supply Ministry plans to begin the third and final phase of its purge of subsidy rolls next month, an unnamed ministry source tells Al Shorouk. The ministry is currently reviewing grievance appeals by Kramers who think they were unfairly removed from the state’s welfare program during the second phase of the purge, which one-time […]
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ICT Committee approves Data Protection Act “in principle”
LEGISLATION WATCH- The House ICT Committee preliminarily approved yesterday the draft Data Protection Act, Youm7 reports. The Madbouly Cabinet completed its final review of the proposed legislation earlier this month, but it remains unclear when the House committee plans to complete its review of the bill and refer it to a vote in parliament’s general […]