{"id":554451,"date":"2021-12-08T14:06:46","date_gmt":"2021-12-08T14:06:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/08\/this-evening-ci-capital-subsidiary-wants-26-of-cleopatra-hospitals-abu-qirs-caps-stake-sale-at-10-omicron-has-a-stealth-mode\/"},"modified":"2021-12-08T14:06:46","modified_gmt":"2021-12-08T14:06:46","slug":"this-evening-ci-capital-subsidiary-wants-26-of-cleopatra-hospitals-abu-qirs-caps-stake-sale-at-10-omicron-has-a-stealth-mode","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/08\/this-evening-ci-capital-subsidiary-wants-26-of-cleopatra-hospitals-abu-qirs-caps-stake-sale-at-10-omicron-has-a-stealth-mode\/","title":{"rendered":"THIS EVENING: CI Capital subsidiary wants 26% of Cleopatra Hospitals + Abu Qir\u2019s caps stake sale at 10% + Omicron has a stealth mode"},"content":{"rendered":"

Good afternoon, friends \u2014 and hold onto your hats.<\/strong> While the news flow is fairly moderate so far today, wind speeds in Cairo are anything but. The west-south-westerly gust is blowing at speeds greater than 40 km\/h, according to our favorite weather app. On its wings comes the news that CI Capital is offering to buy a 26% stake in Cleopatra Hospitals, and official confirmation that Abu Qir will be looking to sell no more than 10% of its shares on the EGX. Elsewhere in things that put the wind up us: early research suggests the Pfizer vaccine could be significantly less effective against Omicron; low-earth orbit is set to become commercially viable with a helping hand from NASA; and blockchain-encrypted pixels (otherwise known as NFTs) are more valuable if they resemble white men.<\/p>\n

THE BIG STORIES TODAY-<\/strong><\/p>\n

<\/a> MCI Capital makes a play for 26% of Cleopatra Hospitals: <\/strong>MCI Capital Healthcare Partners for Medical Care, a subsidiary of CI Capital, has submitted a voluntary tender offer to acquire a 26.2% stake in Cleopatra Hospitals Group for EGP 5 per share, the Financial Regulatory Authority (FRA) announced in a bourse filing<\/a>(pdf)<\/a>. The transaction, which is currently being studied by the FRA, could be worth more than EGP 2 bn at the price and number of shares stated in the filing.<\/p>\n

<\/a> Abu Qir appears to have capped its secondary stake sale on the EGX at <\/strong>10% of <\/strong>the company\u2019s total shares, <\/strong>according to an EGX disclosure (pdf)<\/a> filed today. The disclosure names CI Capital, Renaissance Capital, EFG Hermes and Al Ahly Pharos as advisors on the offering, which comes as the government looks to restart its privatization program following e-Finance\u2019s successful IPO in October.<\/p>\n

^^ We\u2019ll have more on these stories in tomorrow\u2019s EnterpriseAM.<\/strong><\/p>\n

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HAPPENING NOW-<\/strong><\/p>\n

The two-day<\/strong><\/a><\/strong>North Africa Trade Finance Summit<\/a><\/strong> ends today.<\/strong> The event is bringing together business leaders, people from the financial industry, logistics experts and policymakers to discuss trade finance.<\/p>\n

It\u2019s the first day of <\/strong>the Global Forum for Higher Education and Scientific Research<\/a><\/strong> which runs through to Friday at the St. Regis Al Masa Convention Center.<\/p>\n

FOR TOMORROW-<\/strong><\/p>\n

Inflation figures for November will be released tomorrow<\/strong> by Capmas and the Central Bank of Egypt. Urban inflation slipped slightly to 6.3% in October from 6.6% the month before, which was the highest reading since January 2020.<\/p>\n

The Cairo Woodshow<\/a><\/strong> kicks off tomorrow<\/strong> at the Cairo International Convention Center.<\/p>\n

** CATCH UP QUICK<\/strong> on the top stories from this morning\u2019s EnterpriseAM:<\/strong><\/p>\n