{"id":545575,"date":"2022-04-04T04:02:22","date_gmt":"2022-04-04T04:02:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/"},"modified":"2022-04-04T04:02:22","modified_gmt":"2022-04-04T04:02:22","slug":"a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/","title":{"rendered":"A strong start to the year for sukuk + investors sentiment tanks on high-growth firms"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a><strong> Surging oil prices gave sukuk transactions their best ever start to a year in 2022<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-30\/islamic-finance-deals-have-the-best-start-ever-with-oil-up-40?sref=mmeFTDW1\">Bloomberg<\/a> reports. Sales of new sukuk maturing in at least a year reached nearly USD 24 bn in the first quarter, marking the best start since the business newswire began compiling data on the sharia-compliant bonds back in 1999. Saudi Arabia and Turkey were the biggest issuers of sukuk, which performed better than highly-rated global bonds, shedding 4% compared with 7% for investment-grade bonds overall.<\/p>\n<p><strong>Investor sentiment on high-growth private companies has done a 180\u00b0 this year<\/strong> as rising interest rates threaten to hit valuations, the <a href=\"https:\/\/www.ft.com\/content\/534a9dfc-28c2-4b48-be74-4f13aa1a5992\">Financial Times<\/a> reports. Some 95% of \u201cgrowth investors\u201d \u2014 investors situated between early-stage VCs and private equity groups that target older companies \u2014 are expecting to cut corporate valuations over the next 12 months, according to an investor survey by Numis. This compares to 70% who anticipated valuations to either remain the same or rise at the end of 2021. The reversal in sentiment mirrors what is happening in high-growth tech stocks, which have sold off this year ahead of rising borrowing costs.<\/p>\n<p><strong>Another IPO in the Gulf:<\/strong> UAE-based property developer FAM Holding is planning to list on Abu Dhabi stock exchange\u2019s second market, a platform that allows private joint stock companies to list. If approved, FAM Holding, which has a property portfolio worth USD 545 mn, will be joining eight companies currently trading on the second market. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-03\/uae-developer-fam-holding-plans-abu-dhabi-second-market-listing?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>)<\/p>\n<p><strong>IN OTHER FINANCE NEWS-<\/strong><\/p>\n<ul>\n<li><strong>More bad news for Russia\u2019s bondholders:<\/strong> Russian corporate and sovereign debt has been removed from JPMorgan\u2019s EM bond indexes, putting more pressure on Russian fixed-income assets, which have tanked since the country invaded Ukraine on 24 February. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-31\/bondholders-brace-for-russian-expulsion-from-842-billion-club?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li><strong>China wants to keep its companies listed stateside:<\/strong> China has moved to make its auditing rules more transparent in a bid to stop US regulators delisting Chinese firms in 2024. The new rules allow foreign regulators to gain access to sensitive financial information and are being seen as a major concession to the US, which has upped the pressure on Beijing to allow it to access more information about listed Chinese firms. (<a href=\"https:\/\/www.ft.com\/content\/c3d52cf3-a9b7-4a59-99e4-21cdaaebebe6\">FT<\/a>)<\/li>\n<li><strong>Chinese fashion <\/strong><strong>e-commerce startup Shein could raise some USD 1 bn in an upcoming funding round<\/strong>, which would value it at USD 100 bn, according to sources familiar with the matter. The company \u2014 known for its affordable designs and fast delivery \u2014 saw its app downloaded more times than Amazon in the US last year. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-03\/fashion-startup-shein-said-to-raise-funds-at-100-billion-value?srnd=premium-middle-east\">Bloomberg<\/a>)<\/li>\n<\/ul>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,562<\/p>\n<\/td>\n<td>\n<p>+2.9% (YTD: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.21<\/p>\n<\/td>\n<td>\n<p>Sell 18.31<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.19<\/p>\n<\/td>\n<td>\n<p>Sell 18.29<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>9.25% deposit<\/p>\n<\/td>\n<td>\n<p>10.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>13,083<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +16.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,929<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +17.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,537<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +10.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,546<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,538<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,919<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: -8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 104.39<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.72<\/p>\n<\/td>\n<td>\n<p>+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,923.70<\/p>\n<\/td>\n<td>\n<p>-1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 47,337<\/p>\n<\/td>\n<td>\n<p>+2.7% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 rose 2.9% at yesterday\u2019s close<\/strong> on turnover of EGP 561.21 mn (42.5% below the 90-day average). Regional investors were net sellers. The index is down 3.2% YTD.<\/p>\n<p><strong>In the green: <\/strong>EFG Hermes (+9.1%), Mopco (+8.1%) and GB Auto (+7.0%).<\/p>\n<p><strong>In the red: <\/strong>Fawry (-0.6%), Orascom Construction (-0.5%) and Telecom Egypt (-0.2%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Surging oil prices gave sukuk transactions their best ever start to a year in 2022, Bloomberg reports. Sales of new sukuk maturing in at least a year reached nearly USD 24 bn in the first quarter, marking the best start since the business newswire began compiling data on the sharia-compliant bonds back in 1999. Saudi [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[116,7106,72,1607,8297,119,78,122,343,270,1606,123,280,90,117,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545575","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-china","tag-debt","tag-enterpriseam","tag-fam-holding","tag-fashion","tag-financial-markets","tag-ipo-watch","tag-planet-finance","tag-regulation","tag-russia","tag-shein","tag-startups","tag-sukuk","tag-uae","tag-us","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"ca373658-8030-444e-8641-af0ea8a35e93","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[545554],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A strong start to the year for sukuk + investors sentiment tanks on high-growth firms - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A strong start to the year for sukuk + investors sentiment tanks on high-growth firms\" \/>\n<meta property=\"og:description\" content=\"Surging oil prices gave sukuk transactions their best ever start to a year in 2022, Bloomberg reports. 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Sales of new sukuk maturing in at least a year reached nearly USD 24 bn in the first quarter, marking the best start since the business newswire began compiling data on the sharia-compliant bonds back in 1999. Saudi [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-04-04T04:02:22+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"A strong start to the year for sukuk + investors sentiment tanks on high-growth firms","datePublished":"2022-04-04T04:02:22+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/"},"wordCount":511,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["China","debt","EnterpriseAM","FAM Holding","fashion","Financial Markets","IPO watch","Planet Finance","regulation","Russia","Shein","startups","sukuk","UAE","US","venture capital"],"articleSection":["PLANET FINANCE"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/","name":"A strong start to the year for sukuk + investors sentiment tanks on high-growth firms - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2022-04-04T04:02:22+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"A strong start to the year for sukuk + investors sentiment tanks on high-growth firms"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":599524,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/sarwa-capital-applies-for-sukuk-issuer-license\/","url_meta":{"origin":545575,"position":0},"title":"Sarwa Capital applies for sukuk issuer license","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"Sarwa Capital applies for sukuk issuer license: Consumer- and structured-finance player Sarwa Capital has submitted a request to the Financial Regulatory Authority (FRA) for a license to issue sukuk (sharia-compliant bonds), Al Mal reports. Sarwa would become the first Egyptian player to hold a sukuk license if its application is\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597091,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/sarwa-capital-gets-egypts-first-sukuk-issuer-license\/","url_meta":{"origin":545575,"position":1},"title":"Sarwa Capital gets Egypt\u2019s first sukuk issuer license","author":"enterpriseam admin","date":"16 July 2019","format":false,"excerpt":"Sarwa just got Egypt\u2019s first sukuk issuer license: Consumer- and structured-finance player Sarwa Capital has been granted the country\u2019s first sukuk issuer license by the Financial Regulatory Authority (FRA), the company said in a statement to the bourse (pdf). 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