Author Archives: enterpriseam admin

IPO WATCH- Banque Du Caire will IPO in 4Q2018: The IPO of Banque Du Caire is expected to take place in 4Q2018, said EFG Hermes Co-Head of Investment Banking Mustafa Gad in a presser held by the company on Sunday. He added that it was unlikely that the sale of the bank will take place […]

In other EFG Hermes news, the investment bank will begin offering factoring services in 1Q2018, CEO Karim Awad said, according to Reuters. “We see that the Egyptian market is the biggest one that investors can make profit in throughout the coming period,” Awad said. EFG Hermes expects non-financial services to account for more than 10% […]

Majority shareholder of Beltone Financial sold 11.2% of its shares to a group of investors representing financial institutions and investors from the US, GCC, and Egypt at EGP 13.26 per share. ACT Financial sold a 4.44% stake in Beltone, reducing its holdings to 9.56% and Orascom Telecom Media and Technology (OTMT) says it sold a […]

M&A WATCH- Pharos Holding says it has two M&A transactions in the pipeline for 1H2018, Al Masry Al Youm reports. The two transactions will have a combined value of EGP 2 bn, Deputy Head of Investment Banking Ahmed Heider says. The transactions will be in healthcare and retail, he added.

IPO WATCH- The retail offering tranche of Al Tawfeek Leasing Co. (AT Lease) shares was 28x oversubscribed for the 4.8 mn shares offered, according to Al Borsa. Pharos, the sole bookrunner and coordinator for the transaction, had said last Wednesday that The institutional offering was 40.16x oversubscribed for the 14.4 mn shares (or 75% of […]

Grand infrastructure plans: Egypt will spend EGP 100 bn on a construction project in Sinai, President Abdel Fattah El Sisi announced, according to Reuters. “We have entrusted the ministry of housing and the engineering authority with a national project of comprehensive urban planning,” El Sisi says. He added that the project would be “carried out […]

Gov’t issues int’l tender for 534 km electric railway line from Ain Sokhna to Al Alamein: The ministries of housing and transport have issued on Thursday a tender to build, operate and maintain a 534 km railway line linking Ain Sokhna with Al Alamein,Al Borsa reports. The railway will pass through the new administrative capital […]

The ticket prices for Cairo Metro will be increased starting from July, Transport Minister Hisham Arafat said. Commuters will be charged a base fare of EGP 2 for the first 9 stops, with an additional EGP 1 for 9 more stations, with a maximum fare of EGP 6 for commuters who ride one line from […]