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IPO WATCH- Ibnsina Pharma retail offering closes, trading to start tomorrow: Shares Ibnsina Pharma, Egypt’s fastest-growing and second-largest distributor of pharmaceutical products, will begin trading on the EGX on Tuesday after the book-building process for its retail offering ended yesterday. The company’s shares will trade under the stock symbol ISPH.CA and not IBNP as previously […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Dabaa contracts, restoring flights, Russian industrial zone on the agenda at Sisi and Putin summit
Russian President Vladimir Putin is expected to sign an agreement with President Abdel Fattah El Sisi today that will signal the start of the USD 30 bn Dabaa nuclear power plant project, Ittihadiya Spokesperson Bassam Radi told state television yesterday, according to MENA. Foreign Minister Sameh Shoukry had confirmed as much in a televised interview […]
Posted inSpeed Round
“Final” draft of the Automotive Directive coming in January
LEGISLATION WATCH- “Final” draft of the Automotive Directive coming in January: A final draft of the long-awaited Automotive Directive will be ready next month, said Industry Development Authority head Ahmed Abdel Razek. He tells Al Mal that factoring in input from a German consulting firm hired by the Trade and Industry Ministry was behind the […]
Posted inSpeed Round
Afreximbank planning to provide Egypt’s banking sector with USD 500 mn in new loans
The African Export Import Bank (Afreximbank) is planning to provide Egypt with another USD 500 mn loan, this time geared towards the banking sector, Afreximbank's Executive Vice President for Business Development and Corporate Banking Amr Kamel said at the Business for Africa 2017 conference, Al Mal reports. He added that the bank is currently in […]
Posted inSpeed Round
Cleopatra Hospitals capital increase 99.81% subscribed
Cleopatra Hospital Group’s EGP 700 mn capital increase was 99.81% subscribed, according to an EGX disclosure (pdf). The company had applied for EGX approval to issue 1.4 bn new shares to existing shareholders back in October at a price of EGP 0.5 per share as it looked to raise its issued capital to EGP 800 […]
Posted inSpeed Round
QH’s Ahmed Heikal on infrastructure development in Africa
Qalaa Holdings Chairman Ahmed Heikal stressed the importance of infrastructure development for Africa in remarks this weekend in Sharm El Sheikh, describing it as the “key” to unlocking the continent’s “significant growth potential” and capitalizing on its wealth of strong growth drivers, such as rapid population growth levels and large consumer markets. Speaking in an […]
Posted inUncategorized
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Posted inImage of the Day
First Arab produced car to hit the market in June 2018
The UAE’s Sandstorm Automotive is producing the first “100% Arab-manufactured car,” with many parts sourced from Egypt. The company plans to launch its creation by June 2018 with the intention of producing 3,000-5,000 units in an initial run. Sandstorm “purchased glass, batteries, seats, and car horns from the Egyptian market, and seeks to establish a […]
Posted inEGYPT IN THE NEWS
US should engage with Egypt actively on human rights -Dunne
Michelle Dunne recapped recommendations she made at the Tom Lantos Human Rights Commission’s congressional hearing on Egypt in a piece for the Carnegie Endowment in which she stresses active engagement, arguing that the US had a strong interest in improved human rights conditions in Egypt as well as a responsibility to press for them. The […]
Posted inEGYPT IN THE NEWS
New administrative capital is a hard sell -AFP
The new administrative capital has been “hard to sell,” according to the AFP. “Amid hesitation from foreign investors, only a few Gulf companies and a Chinese partner have expressed interest in the project,” the piece notes. Also worth a skim this morning: Egypt, Saudi, and the UAE “ have a strong pipeline of announced and […]