{"id":551284,"date":"2022-06-07T13:17:47","date_gmt":"2022-06-07T13:17:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/this-evening-efg-hermes-vortex-energy-investments-in-spains-ignis-energia-total-eur-222-mn-public-placement-for-ghazl-el-mahalla-fcs-ipo-to-begin-on-sunday\/"},"modified":"2022-06-07T13:17:47","modified_gmt":"2022-06-07T13:17:47","slug":"this-evening-efg-hermes-vortex-energy-investments-in-spains-ignis-energia-total-eur-222-mn-public-placement-for-ghazl-el-mahalla-fcs-ipo-to-begin-on-sunday","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/this-evening-efg-hermes-vortex-energy-investments-in-spains-ignis-energia-total-eur-222-mn-public-placement-for-ghazl-el-mahalla-fcs-ipo-to-begin-on-sunday\/","title":{"rendered":"THIS EVENING: EFG Hermes\u2019 Vortex Energy investments in Spain\u2019s Ignis Energia total EUR 222 mn + Public placement for Ghazl El Mahalla FC\u2019s IPO to begin on Sunday"},"content":{"rendered":"<p><strong>It\u2019s a semi-news dump day type of hump day, ladies and gentlemen<\/strong>, with just enough going on to propel us through the midweek slump.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EFG Hermes\u2019 energy investment platform Vortex Energy has invested EUR<\/strong><strong> 222 mn to date into Spanish solar developer Ignis Energia<\/strong>, fulfilling the terms of its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65a8fe4f-1dec-49a2-b755-187b7dec50cc\">agreement<\/a> with the renewables player, EFG Hermes said in a <a href=\"https:\/\/ent.news\/2022\/6\/Vortex-Energy-Ignis-June-7-2022-English.pdf\">press release (pdf)<\/a>. Vortex plans to double its investments in Ignis by 2023, with a c. EUR 46 mn investment planned for 4Q 2022, and another EUR 176 mn investment in 1Q 2023 \u2014 bringing total investments in the firm to EUR 444 mn. Earlier unconfirmed reports had indicated that EFG\u2019s equity investment would give it a 49% stake in Ignis.<\/p>\n<p><strong>The public placement for Ghazl El Mahalla FC\u2019s EGP 98 mn IPO will begin on Sunday, 12<\/strong><strong> June<\/strong>, and will last until the beginning of July, according to a <a href=\"https:\/\/ent.news\/2022\/6\/%D9%81%D8%AA%D8%AD-%D8%A8%D8%A7%D8%A8-%D8%A7%D9%84%D8%A7%D9%83%D8%AA%D8%AA%D8%A7%D8%A8-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D9%81%D9%8A-%D8%A3%D8%B3%D9%87%D9%85-%D8%B4%D8%B1%D9%83%D8%A9-%D8%BA%D8%B2%D9%84-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D8%A9-%D9%84%D9%83%D8%B1%D8%A9-%D8%A7%D9%84%D9%82%D8%AF%D9%85.pdf\">press release (pdf)<\/a>. The company has set its share price at EGP 1.02. The small retail offering has been approved by the Financial Regulatory Authority, paving the way for the football club to go ahead with the sale by late July or early August, Mohamed Maher, head of bookrunner Prime Holding Mohamed Maher previously told Enterprise.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>It\u2019s another day of international headlines being thoroughly mixed.<\/strong> The status of Ukrainian wheat shipments is still getting some play, after Russia said today that the Berdyansk and Mariupol ports are ready to restart grain exports after removing what it says were Ukrainian mines, according to <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/russia-says-mariupol-berdyansk-ports-ready-ship-grain-2022-06-07\/\">Reuters<\/a>. On the business and economy side of the news flow, investor fears about growth and monetary policy are muting equity markets in Europe and US futures, and weighing on oil prices. WTI Crude and Brent Crude both slipped 0.4%, with WTI trading at USD 118.05 per barrel, while international benchmark Brent is currently priced at USD 119.02 per barrel. The story is getting ink from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-06\/oil-edges-higher-as-traders-assess-russian-fallout-china-demand?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/global-stocks-markets-dow-update-06-07-2022-11654589931\">Wall Street Journal<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Prime Minister Moustafa Madbouly <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd9a361-7664-491a-8579-5bd3b45d50ed\">has directed<\/a><\/strong><strong> the Finance Ministry to update its plan for the state privatization program<\/strong>, including preparing a timeline for stake sales in state-owned firms and how much of each company could be on offer.<\/li>\n<li><strong>A handful of MPs are <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/750edb4f-028c-4036-a98d-58f6856f1b18\">less than thrilled<\/a><\/strong><strong> with the government\u2019s plan to offer a stake in the company it will create through a merger of seven or eight state-owned hotels<\/strong>, which have yet to be determined.<\/li>\n<li><strong>Elevate takes a leap into leasing:<\/strong> Our friends at Elevate Private Equity <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/723b1079-f3d5-4456-ab06-f74fe1488854\">have landed approval<\/a> in principle from the Financial Regulatory Authority to set up a financial leasing arm as the healthcare management company looks to branch out into non-banking financial services<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>CORRECTION-<\/strong> We incorrectly stated in this morning\u2019s EnterpriseAM that companies in the telecoms sector would be given access to the central bank\u2019s soft loans scheme for tourism companies. The Central Bank of Egypt has extended the program to cover telecoms maintenance and upgrade costs for tourism companies. The story has since been corrected <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba0b7a59-fadc-4e67-9b05-e01368706fc5\">on our website<\/a>.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/digitransformationsummit.com\/egypt\/\">Digital Transformation Summit<\/a><\/strong><strong> gets underway this Thursday<\/strong>, 9 June, bringing together public and private sector players in the tech industries to share and discuss views on the current landscape of the market, recent tech innovations, and proposed strategies.<\/p>\n<p><strong>NEWS TRIGGERS you\u2019ll want to keep an eye on this month:<\/strong><\/p>\n<ul>\n<li><strong>Inflation figures for May<\/strong> are due out on Saturday, 9 June (from state statistics agency Capmas) and Sunday, 12 June (central bank figures);<\/li>\n<li><strong>The Central Bank of Egypt holds its policy meeting<\/strong> on Thursday, 23 June.<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>The mercury is reaching 40\u00b0C tomorrow as the current heat wave continues, our favorite weather app tells us. It\u2019ll get cooler at night as temperatures drop to 27\u00b0C.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a semi-news dump day type of hump day, ladies and gentlemen, with just enough going on to propel us through the midweek slump. THE BIG STORY TODAY EFG Hermes\u2019 energy investment platform Vortex Energy has invested EUR 222 mn to date into Spanish solar developer Ignis Energia, fulfilling the terms of its agreement with [&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":[7213],"tags":[84,633,9093,270,304,1589,634,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-551284","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-efg-hermes","tag-enterprisepm","tag-ghazl-el-mahalla","tag-russia","tag-ukraine","tag-vortex-energy","tag-what-were-tracking-tonight","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"251f04ae-5f3a-49e1-8bc1-ccb4604c2edd","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[551282],"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>THIS EVENING: EFG Hermes\u2019 Vortex Energy investments in Spain\u2019s Ignis Energia total EUR 222 mn + Public placement for Ghazl El Mahalla FC\u2019s IPO to begin on Sunday - 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\/06\/07\/this-evening-efg-hermes-vortex-energy-investments-in-spains-ignis-energia-total-eur-222-mn-public-placement-for-ghazl-el-mahalla-fcs-ipo-to-begin-on-sunday\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: EFG Hermes\u2019 Vortex Energy investments in Spain\u2019s Ignis Energia total EUR 222 mn + Public placement for Ghazl El Mahalla FC\u2019s IPO to begin on Sunday\" \/>\n<meta property=\"og:description\" content=\"It\u2019s a semi-news dump day type of hump day, ladies and gentlemen, with just enough going on to propel us through the midweek slump. 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Vortex plans to eventually\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555971,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/","url_meta":{"origin":551284,"position":1},"title":"EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer","author":"enterpriseam admin","date":"5 October 2021","format":false,"excerpt":"\u200b\u200bEFG Hermes\u2019 energy investment platform Vortex Energy will invest EUR 625 mn in Spanish solar developer Ignis Energia in return for an undisclosed equity stake, the companies said in a joint statement (pdf) yesterday.The investment has handed EFG 49% of Ignis, a source familiar with the matter told Reuters. 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