{"id":549819,"date":"2022-10-02T04:12:39","date_gmt":"2022-10-02T04:12:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/ekh-announces-usd-20-mn-share-buyback-efg-hermes-tops-the-brokerage-league-table-in-september\/"},"modified":"2022-10-02T04:12:39","modified_gmt":"2022-10-02T04:12:39","slug":"ekh-announces-usd-20-mn-share-buyback-efg-hermes-tops-the-brokerage-league-table-in-september","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/ekh-announces-usd-20-mn-share-buyback-efg-hermes-tops-the-brokerage-league-table-in-september\/","title":{"rendered":"EKH announces USD 20 mn share buyback + EFG Hermes tops the brokerage league table in September"},"content":{"rendered":"

<\/a> Egyptian Kuwait Holding (EKH) will spend USD 20 mn buying back around 1.5% of <\/strong>the company<\/strong> (16.9 mn shares) over the next year in a bid to buoy its share price, the company said in disclosures to the EGX (here, pdf<\/a> and here, pdf<\/a>) on Wednesday. The company\u2019s share price rose 3.0% on Thursday.<\/p>\n

Arresting the decline:<\/strong> The company\u2019s share price has fallen almost 18% since March, despite reporting two consecutive quarters of record earnings<\/a> during the first half of the year on the back of rising fertilizer prices. Its net income rose 60% y-o-y to USD 72.4 mn during 2Q 2022, while revenues rose 53% y-o-y to USD 284.8 mn.<\/p>\n

It\u2019s not the only one looking to prop up its share price: <\/strong>Edita<\/a> and e-Finance<\/a> are among several companies to have announced buyback programs in recent weeks. Inflationary pressure, rising interest rates in western economies, and global market volatility have all contributed to a risk-off from emerging markets. The benchmark index fell to its lowest level since November 2016<\/a> earlier this year, and is currently down nearly 18% YTD.<\/p>\n

Advisors: <\/strong>Al Ahly Pharos will execute the buyback program.<\/p>\n

ALSO IN CAPITAL MARKETS- EFG Hermes once again topped the EGX\u2019s <\/strong>brokerage league table in September<\/strong>, with a market share of 20.4%, according to figures fromthe EGX (pdf)<\/a>. Rounding out the top five were CI Capital (6.4%), Mubasher (4.5%), Pioneers Securities (4.0%), and Prime Securities (3.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Egyptian Kuwait Holding (EKH) will spend USD 20 mn buying back around 1.5% of the company (16.9 mn shares) over the next year in a bid to buoy its share price, the company said in disclosures to the EGX (here, pdf and here, pdf) on Wednesday. The company\u2019s share price rose 3.0% on Thursday. Arresting […]<\/p>\n","protected":false},"author":1,"featured_media":549820,"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":[7303],"tags":[102,84,68,2502,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-efg-hermes","tag-egx","tag-egyptian-kuwait-holding","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"33aba2ff-ec2e-4878-8b5a-b7b7500fc445","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/110.jpg","photo_position":"above","related_issue":[549804],"teaser":"","voice_url":""},"yoast_head":"\nEKH announces USD 20 mn share buyback + EFG Hermes tops the brokerage league table in September - 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\/10\/02\/ekh-announces-usd-20-mn-share-buyback-efg-hermes-tops-the-brokerage-league-table-in-september\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EKH announces USD 20 mn share buyback + EFG Hermes tops the brokerage league table in September\" \/>\n<meta property=\"og:description\" content=\"Egyptian Kuwait Holding (EKH) will spend USD 20 mn buying back around 1.5% of the company (16.9 mn shares) over the next year in a bid to buoy its share price, the company said in disclosures to the EGX (here, pdf and here, pdf) on Wednesday. The company\u2019s share price rose 3.0% on Thursday. 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The company began its program to purchase treasury stock earlier\u2026","rel":"","context":"In "Speed Round"","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":563016,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/15\/an-egp-share-with-usd-dividends\/","url_meta":{"origin":549819,"position":1},"title":"An EGP share with USD dividends?","author":"enterpriseam admin","date":"15 June 2021","format":false,"excerpt":"Egypt Kuwait Holding (EKH) stockholders can now apply to convert the trading currency of their shares to EGP from USD, the company announced in a bourse disclosure (pdf) yesterday. The window is open for the next three months and could be interesting to folks who have followed the compelling turnaround\u2026","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/202.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584662,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/03\/what-the-markets-are-doing-on-3-april-2023\/","url_meta":{"origin":549819,"position":2},"title":"What the markets are doing on 3 April, 2023","author":"enterpriseam admin","date":"3 April 2023","format":false,"excerpt":"MARKET NEWS-Ezz Steel\u2019s net income rose 23.2% y-o-y to EGP 6.6 bn in 2022, according to an EGXdisclosure(pdf). The company\u2019s revenues, meanwhile, rose 23.8% y-o-y to EGP 84.0 bn.OFH to carry out capital reduction: Orascom Financial Holding\u2019s (OFH) board of directors has agreed to reduce the company\u2019s share capital to\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598132,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/earnings-watch-efg-hermes-talaat-moustafa-telecom-egypt-porto-group-credit-agricole-vodafone-egypt\/","url_meta":{"origin":549819,"position":3},"title":"Earnings Watch: EFG Hermes, Talaat Moustafa, Telecom Egypt, Porto Group, Credit Agricole, Vodafone Egypt","author":"enterpriseam admin","date":"15 May 2019","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes net profits rise 51% y-o-y in 1Q2019 to EGP 374 mn, the company announced in a statement (pdf). Revenues rose 42% y-o-y to reach EGP 1.3 bn, up from EGP 945 mn in 1Q2018. Earnings growth was driven by a 58% y-o-y increase in commissions and\u2026","rel":"","context":"In "Speed Round"","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":581812,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/ekh-to-invest-usd-170-mn-in-egypt-this-year-reports-record-sales-in-2022\/","url_meta":{"origin":549819,"position":4},"title":"EKH to invest USD 170 mn in Egypt this year + reports record sales in 2022","author":"enterpriseam admin","date":"26 February 2023","format":false,"excerpt":"More than half of the amount will be allocated to capital expenditure","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/EKH-2.25.23-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544389,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-results\/","url_meta":{"origin":549819,"position":5},"title":"EKH, MNHD and Misr Insurance Holding announce full-year results","author":"enterpriseam admin","date":"1 March 2022","format":false,"excerpt":"Egypt Kuwait Holding Company\u2019s net income grew 34% y-o-y in 4Q2021 to record USD 36.1 mn, according to the company\u2019s earnings release (pdf). Revenues rose 66% y-o-y for the quarter to record USD 243.8 mn. EKH reported 47% y-o-y bottomline growth in 2021 to record USD 170.9 mn, on revenues\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549819"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549819\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549820"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549819"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549819"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}