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Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Surprising lack of coverage on the inflation results
It was a very mixed and dreary night on the airwaves, folks, with topics ranging from sports, to further coverage of the arrest of the Customs Authority. Surprisingly enough, the least discussed topic was the inflation report. Not even Hona Al Asema touched on it. Annual headline inflation on track to rise next month: Former […]
Posted inSpeed Round
Annual headline inflation accelerates for the first time in almost a year in June to 14.4%
Annual headline inflation accelerated for the first time in almost a year to 14.4% in June, up from a low of 11.4% in May, according to data from CAPMAS released by the central bank yesterday. Monthly headline inflation rose to 3.5%, up from 0.2% in May. Meanwhile, annual core inflation — the CBE’s preferred gauge, […]
Posted inSpeed Round
FinMin calls off bond sale, says offer prices were too expensive
FinMin calls off bond sale, says offer prices were too expensive: The Finance Ministry decided yesterday to cancel two local bond offerings worth a combined EGP 3.5 bnwith three- and eight-year maturities after investors and banks asked for returns as high as 18.5%, Reuters’ Arabic service reports. “The prices offered were not adequate,” the Finance […]
Posted inSpeed Round
Orange Egypt’s capital increase was largest in MENA in 2Q2018, regional M&A activity reaches eight-year high
Orange Egypt’s capital increase was the largest in MENA in 2Q2018, M&A activity reached eight-year high: Orange Egypt’s USD 866 mn capital increase was the MENA region’s largest equity capital markets transaction in 1H2018, according to data released yesterday by Thomson Reuters. Total M&A transactions in the region reached an eight-year high during the quarter, […]
Posted inSpeed Round
Sarwa Capital to sell up to 30% of shares in 4Q2018 -report
IPO WATCH- Sarwa Capital is planning to sell up to 30% of its shares on the EGX sometime in 4Q2018, sources reportedly told Al Mal on Tuesday. Our friends at Sarwa have reportedly hired Beltone Financial to lead the transaction, the newspaper reports, suggesting the offering will have a substantial international component. A financial adviser […]
Posted inSpeed Round
Pharos has 15 transactions in pipeline, most of them M&As
Our friends at Pharos have a pipeline of 15 transactions worth a combined EGP 7 bn on which they’re advising, Pharos’ head of investment banking Noha El Ghazaly said in a wide-ranging interview with Amwal Al Ghad. Most of these are M&A transactions, while three are IPOs or strategic stake sales, El Ghazaly added. The […]
Posted inSpeed Round
HC working on three transactions worth EGP 2 bn this year
HC Securities & Investment has three M&As worth a combined EGP 2 bn in its pipeline for execution this year, the firm’s head of investment banking, Mahmoud Selim, tells Amwal Al Ghad. HC is also advising on an IPO in the manufacturing sector that Selim says will be worth EGP 800 mn. The firm is […]
Posted inSpeed Round
Revised Banking Act won’t be ready for public debate before 4Q2018
LEGISLATION WATCH- A revised Banking Act won’t be ready for public discussion before 4Q2018: The central bank will not be ready to present its long-planned overhaul of the bill to the Madbouly Cabinet until 4Q2018, a source familiar with the matter said. CBE Governor Tarek Amer had said back in May that the law would […]
Posted inSpeed Round
House Budget committee approves sovereign wealth fund act
LEGISLATION WATCH- The House of Representatives’ Budget Committee approved on Tuesday legislation establishing Egypt’s EGP 200 bn sovereign wealth fund, Al Mal reports. The committee will submit its report on the legislation to the House general assembly next week. Planning Minister Hala El Saeedhad said last month that the fund would launch at the end […]