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IPO WATCH- Dice Sport and Casual Wear announced yesterday that its domestic offering was 5.96x oversubscribed, with demand reaching 29.542 mn shares, Youm7 reports. Subscription to the domestic offering, which had initially included 4.956 mn shares, closed yesterday. The company’s institutional offering was also 3.1x oversubscribed, as we noted earlier this week. EFG Hermes is […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Alwaleed has no stake in TMG, company to self-finance expansions
Saudi Prince Alwaleed bin Talal has no investments in Talaat Moustafa Group Holding (TMG) personally or indirectly through subsidiaries including Kingdom Holdings, the company told the EGX yesterday. The real estate developer also said the company has so far spent USD 213 mn to expand and develop the Four Seasons Sharm hotel using its own […]
Posted inSpeed Round
House gives preliminary nod to basket of legislation
LEGISLATION WATCH- House gives preliminary nod to basket of legislation: The House of Representatives gave a preliminary nod to a basket of legislation yesterday, votes on which had been postponed due to lack of quorum. MPs signed off in principle on the Labor Unions Act, Al Shorouk reports, which comes ahead of an International Labor […]
Posted inSpeed Round
Trager to cover MENA for Senate Foreign Relations Committee
MOVES- Eric Trager has joined the US Senate Foreign Relations Committee’s majority staff as the professional staff member covering the Middle East and North Africa. That makes him a key voice in DC shaping the Senate’s view on all things Egypt. Trager, who has long studied Egypt and was no fan of our Islamist interregnum, […]
Posted inSpeed Round
Stratex International votes to remove CEO
MOVES- The board of gold miner Stratex International voted to remove Marcus Engelbrecht as a director and to terminate his employment as CEO. The board also terminated the proposed bid to acquire Crusader Resources Limited. Stratex has a 30.5% interest in privately-owned Thani Stratex Resources Limited for its projects in Egypt and Djibouti.
Posted inSpeed Round
Earnings Watch: Obour Land
EARNINGS WATCH- Cheese maker Obour Land reported its 9M2017 net profit increased to EGP 176.5 mn from EGP 110.1 mn a year earlier. Revenues also increased to EGP 1.46 bn from EGP 1.05 bn during the period.
Posted inSpeed Round
Regional politics in the limelight in El Sisi’s interview with Asharq Alawsat
EL SISI INTERVIEW- “Up to the people” whether he runs for a second term in office. Asked in a one-on-one with the regional Asharq Alawsat newspaper whether he would consider running for a second term in office, President Abdel Fattah El Sisi said the decision was not up to him, but to the people. He […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
EM hedge funds continue to attract investors despite fears of interest rate hikes in developed markets
EM hedge funds continue to attract investors despite fears of interest rate hikes in developed markets: Emerging-market macro hedge funds have been riding the EM rally to the point of having to turn away clients, Suzy Wait and Nishant Kumar write for Bloomberg. EM macro hedge funds have widely outperformed those trading in the broader […]
Posted inImage of the Day
Louvre Abu Dhabi set to open
The USD 1 bn Louvre Abu Dhabi is set to open on 11 November with more than 600 pieces for its permanent collection and 300 on loan from Paris, reports Bloomberg. The museum has been ten years in the making and the results look like they will be breathtaking with 23 permanent galleries set to […]