{"id":555710,"date":"2021-11-24T03:50:08","date_gmt":"2021-11-24T03:50:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/marked-improvement-in-investor-confidence-in-egypt-efgs-awad\/"},"modified":"2021-11-24T03:50:08","modified_gmt":"2021-11-24T03:50:08","slug":"marked-improvement-in-investor-confidence-in-egypt-efgs-awad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/marked-improvement-in-investor-confidence-in-egypt-efgs-awad\/","title":{"rendered":"\u201cMarked\u201d improvement in investor confidence in Egypt -EFG\u2019s Awad"},"content":{"rendered":"

<\/a> Investor confidence in Egypt is showing a \u201cmarked improvement,\u201d<\/strong> EFG Hermes Group CEO Karim Awad said at EFG Hermes\u2019 Egypt Day conference yesterday. Awad pointed to international institutions\u2019 positive growth outlook for Egypt and the government\u2019s progress on its economic reform program as having a significant positive impact on the business climate.<\/p>\n

MORE of the same, please: We\u2019re on track to see five or six state-owned companies tap <\/strong>the EGX <\/strong>before the end of the current fiscal year as part of the state privatization program, Prime Minister Moustafa Madbouly said during the event<\/a> yesterday, without disclosing names. Public Enterprises Minister Hisham Tawfik said last month<\/a> that five state-owned companies would IPO on the EGX by the end of FY2021-2022.<\/p>\n

Background: <\/strong>The state has been committed since 2018 to either (a) IPOing companies in its portfolio or (b) pulling the trigger on secondary sales of stakes in companies in which it holds a majority interest, but that are already listed on the EGX. Fintech firm e-Finance finally broke through the barrier this fall when it went public in one of the biggest IPOs<\/a> Egypt has seen in years. Its shares are up 38% since its debut.<\/p>\n

Why the delays?<\/strong> Poor market conditions and then covid, <\/strong>EFG Hermes\u2019 head of research Ahmed Shams told Kelma Akhira\u2019s Lamees El Hadidi last night (watch, runtime: 6:37<\/a>). The EGX has particular interest in seeing new industries represented on the bourse, he said, explaining that the exchange is currently dominated by financial and real estate sectors. Secondary stake sales are also important because they increase liquidity and market cap of existing names, he said.<\/p>\n

The candidates:<\/strong> Ghazl El Mahalla Football Club<\/strong> is expected to go public on the EGX in the coming weeks (it\u2019s admittedly a small sale, but could open the door for Al Ahly<\/a><\/strong>to follow suit<\/a>). EGX-listed Abu Qir Fertilizers<\/strong> is on the list of companies likely to pull the trigger on a secondary sale. Meanwhile, Tawfik recently announced<\/a> that Heliopolis Housing<\/strong> would revisit plans to list a secondary stake, likely taking place in the middle of next year. Other companies that have previously expressed intent to sell shares on the bourse include Banque du Caire<\/strong>, Alexandria Containers and Cargo<\/strong> and the Alexandria Mineral Oils Company<\/strong>.<\/p>\n

What\u2019s EFG Hermes\u2019 <\/strong>Egypt Day<\/a><\/strong>?<\/strong> The investor conference, which wrapped yesterday, brought investors from 28 global financial institutions to Egypt for face-to-face meetings with senior government officials as well as C-suite execs from a number of leading Egyptian businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Investor confidence in Egypt is showing a \u201cmarked improvement,\u201d EFG Hermes Group CEO Karim Awad said at EFG Hermes\u2019 Egypt Day conference yesterday. Awad pointed to international institutions\u2019 positive growth outlook for Egypt and the government\u2019s progress on its economic reform program as having a significant positive impact on the business climate. MORE of the […]<\/p>\n","protected":false},"author":1,"featured_media":555711,"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":[7206],"tags":[104,72,153,78,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-hisham-tawfik","tag-ipo-watch","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"11e78162-7691-4fb6-b9ca-a5ae50f690d3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/575.jpg","photo_position":"above","related_issue":[555706],"teaser":"","voice_url":""},"yoast_head":"\n\u201cMarked\u201d improvement in investor confidence in Egypt -EFG\u2019s Awad - 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\/2021\/11\/24\/marked-improvement-in-investor-confidence-in-egypt-efgs-awad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cMarked\u201d improvement in investor confidence in Egypt -EFG\u2019s Awad\" \/>\n<meta property=\"og:description\" content=\"Investor confidence in Egypt is showing a \u201cmarked improvement,\u201d EFG Hermes Group CEO Karim Awad said at EFG Hermes\u2019 Egypt Day conference yesterday. 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The minister said the move had been delayed until after the summer, without providing further details on the companies to be listed.Egypt had hoped to sell shares in\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543386,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/31\/state-privatization-program-to-resume-in-march-maait\/","url_meta":{"origin":555710,"position":1},"title":"State privatization program to resume in March -Maait","author":"enterpriseam admin","date":"31 January 2022","format":false,"excerpt":"Privatization program to resume in March -Maait: We can expect more state-owned companies to offer shares on the EGX in the coming weeks, according to Finance Minister Mohamed Maait, who told Bloomberg Asharq (watch, runtime: 3:26) yesterday that the state privatization program will resume in March. This comes a few\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/537.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621846,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/egypts-eastern-tobacco-stake-sale-is-in-the-offing-as-share-price-recovers\/","url_meta":{"origin":555710,"position":2},"title":"Egypt\u2019s Eastern Tobacco stake sale is \u201cin the offing\u201d as share price recovers","author":"enterpriseam admin","date":"19 November 2018","format":false,"excerpt":"IPO WATCH- Eastern Tobacco stake sale is \u201cin the offing\u201d as share price recovers: The sale by the state of an additional 4.5% stake in the Eastern Tobacco Company on the EGX is \u201cin the offing,\u201d Public Enterprises Minister Hisham Tawfik said yesterday, according to Al Mal. Tawfik did not\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":598782,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/09\/government-ipos-set-for-september-on-schedule\/","url_meta":{"origin":555710,"position":3},"title":"Government IPOs set for September on schedule","author":"enterpriseam admin","date":"9 June 2019","format":false,"excerpt":"EXCLUSIVE- IPOs by state-owned companies set for fall as planned, come what may: State-owned companies selected to make initial public offerings of their shares under the second phase of the state\u2019s privatization program will move forward with transactions starting in September as scheduled, Public Enterprises Minister Hisham Tawfik told Enterprise\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\/2019\/4\/Egypt-state-privatization-program-IPOs.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572573,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/30\/egypt-suspends-privatization-program-again-due-to-unfavorable-conditions\/","url_meta":{"origin":555710,"position":4},"title":"Egypt suspends privatization program again due to \u201cunfavorable\u201d conditions","author":"enterpriseam admin","date":"30 June 2020","format":false,"excerpt":"PRIVATIZATION WATCH- The state privatization program is still on ice due to the \u201cunfavorable\u201d market conditions caused by the covid-19 pandemic, Public Enterprises Minister Hisham Tawfik told Bloomberg. The suspension will remain in place until further notice, Tawfik told the business information service. Tawfik had said in March that the\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\/2020\/6\/307.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622651,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/09\/eastern-company-stake-sale-set-for-21-25-october\/","url_meta":{"origin":555710,"position":5},"title":"Eastern Company stake sale set for 21-25 October","author":"enterpriseam admin","date":"9 October 2018","format":false,"excerpt":"** #5 IPO WATCH- Eastern Company stake sale set for 21-25 October, timing not ideal: The sale of an additional 4.5% stake of cigarette maker Eastern Company on the EGX is scheduled to take place sometime between 21-25 October, Public Enterprises Minister Hisham Tawfik told the press yesterday, Youm7 reports.\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555710","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=555710"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555710\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555711"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555710"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555710"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}