{"id":556309,"date":"2021-10-19T04:11:35","date_gmt":"2021-10-19T04:11:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/19\/fertiglobe-could-become-abu-dhabis-third-largest-listing-yet\/"},"modified":"2021-10-19T04:11:35","modified_gmt":"2021-10-19T04:11:35","slug":"fertiglobe-could-become-abu-dhabis-third-largest-listing-yet","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/19\/fertiglobe-could-become-abu-dhabis-third-largest-listing-yet\/","title":{"rendered":"Fertiglobe could become Abu Dhabi\u2019s third largest listing yet"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>F<\/strong><strong>ertiglobe could raise as much as USD 830 mn through its IPO on the ADX<\/strong>, after the company said it will price its shares at the top end of its indicative range of AED 2.45-2.65 apiece, according to terms seen by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-18\/fertiglobe-set-to-price-abu-dhabi-ipo-at-top-end-of-price-range?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>. This pricing would make Fertiglobe\u2019s IPO Abu Dhabi\u2019s third-largest listing. Fertiglobe, a joint venture between Abu Dhabi National Oil Co. and Nassef Sawiris\u2019 OCI, is offering 13.85% of the company in the IPO. The nitrogen fertilizer producer will be valued at USD 6 bn, according to Bloomberg, as it benefits from soaring fertilizer prices and damage dealt to rivals as a result of the natural gas supply crisis. <strong>Our friends at EFG Hermes are bookrunners on the transaction.<\/strong><\/p>\n<p><strong>Was lockd<\/strong><strong>own trading (and meme stocks) just a flash in the pan?<\/strong> Covid-related restrictions saw many normies take up trading as a pastime, the <a href=\"https:\/\/www.ft.com\/content\/f9d546a3-cd7c-419b-844d-7039a1eb5294\">FT<\/a> writes, citing data showing that 30 mn new investing accounts were opened in the US in the first year of the pandemic. The unprecedented rise in retail investors saw them make up 25-30% of total US trading at their peak, up from the 10-15% recorded pre-pandemic. But this \u201carmy of lockdown traders\u201d has slowed down now that countries are opening up again: 3Q2021 saw an 8% drop in trading activity in comparison to the quarter before.<\/p>\n<p><strong>Other stories worth knowing about:<\/strong><\/p>\n<ul>\n<li><strong>A group of investors in Aramco\u2019s oil pipelines is looking to issue at least USD <\/strong><strong>4.5<\/strong> <strong>bn in bonds<\/strong> to refinance a USD 10.5 bn loan they had taken out to fund their investment, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-18\/aramco-oil-pipeline-investors-ready-multi-billion-dollar-bond?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/li>\n<li><strong>Goldman Sachs<\/strong><strong> is <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/goldman-sachs-cleared-to-own-all-of-china-securities-unit-11634524579\">the latest Bulge Bracket bank<\/a><\/strong> to have gotten the OK to take <a href=\"https:\/\/www.goldmansachs.com\/media-relations\/press-releases\/2021\/announcement-17-oct-2021.html\">full<\/a><a href=\"https:\/\/www.goldmansachs.com\/media-relations\/press-releases\/2021\/announcement-17-oct-2021.html\">ownership of its China unit<\/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>11276.17<\/p>\n<\/td>\n<td>\n<p>+1% (YTD: 4%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/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>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% 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>11,758.02<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: 35.3%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,893.01<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: 56.4%)<\/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>2,817.17<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: 13%)<\/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>4,486.46<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: 19.4%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,203.83<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: 11.5%)<\/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 84.08<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.00<\/p>\n<\/td>\n<td>\n<p>-7.6%<\/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 1,764.90<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 61,812.77<\/p>\n<\/td>\n<td>\n<p>+1.66% (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 1.1% at yesterday\u2019s close<\/strong> on turnover of EGP 1.4 bn (7% below the 90-day average). Local investors were net sellers. The index is down 4.0% YTD.<\/p>\n<p><strong>In the green: <\/strong>GB Auto (+7.8%), CIRA (+6.6%) and Pioneers Properties (+4.4%).<\/p>\n<p><strong>In the red: <\/strong>Abu Kir Fertilizers (-4.3%), AMOC (-2.4%) and MM Group (-2.0%).<\/p>\n<p><strong>Asian markets are (ever so slightly) in the green<\/strong>, while futures suggest European shares will have a mixed open this morning and Wall Street is on track to start the day largely flat ahead of earnings reports expected today from Netflix, J&J, P&G and United Airlines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fertiglobe could raise as much as USD 830 mn through its IPO on the ADX, after the company said it will price its shares at the top end of its indicative range of AED 2.45-2.65 apiece, according to terms seen by Bloomberg. This pricing would make Fertiglobe\u2019s IPO Abu Dhabi\u2019s third-largest listing. Fertiglobe, a joint [&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":[394,88,93,72,3342,119,3341,125,122,9874],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556309","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-aramco","tag-debt-watch","tag-energy","tag-enterpriseam","tag-fertiglobe-ip","tag-financial-markets","tag-goldman-sachs-china","tag-investment-watch","tag-planet-finance","tag-traders","wpautop","entry"],"acf":{"mongo_id":"3c89de9d-f323-47a6-9a59-209d03c6b987","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[556288],"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>Fertiglobe could become Abu Dhabi\u2019s third largest listing yet - 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\/10\/19\/fertiglobe-could-become-abu-dhabis-third-largest-listing-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fertiglobe could become Abu Dhabi\u2019s third largest listing yet\" \/>\n<meta property=\"og:description\" content=\"Fertiglobe could raise as much as USD 830 mn through its IPO on the ADX, after the company said it will price its shares at the top end of its indicative range of AED 2.45-2.65 apiece, according to terms seen by Bloomberg. 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The company is offering a 13.8% stake (1.1 mn\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556026,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sawiris-backed-fertiglobe-to-list-on-adx-next-month\/","url_meta":{"origin":556309,"position":1},"title":"Sawiris-backed Fertiglobe to list on ADX next month","author":"enterpriseam admin","date":"6 October 2021","format":false,"excerpt":"Sawiris-backed Fertiglobe to go public in Abu Dhabi this month: Nassef Sawiris-backed chemical producer OCI and Abu Dhabi National Oil Company (Adnoc) yesterday announced their intention to offer a 13.8% stake in their joint venture Fertiglobe on the ADX later this month. The listing could value the company at around\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557419,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/e-finance-to-ipo-this-fall\/","url_meta":{"origin":556309,"position":2},"title":"E-Finance to IPO this fall","author":"enterpriseam admin","date":"19 September 2021","format":false,"excerpt":"E-Finance, the state-owned fintech platform and digital payment infrastructure provider could become the second company to IPO on the EGX this year after formally announcing its intention to go ahead with a public share sale in 4Q2021. 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The listing was\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546504,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/18\/aramco-could-deliver-one-of-the-worlds-biggest-ipos-this-year\/","url_meta":{"origin":556309,"position":5},"title":"Aramco could deliver one of the world\u2019s biggest IPOs this year","author":"enterpriseam admin","date":"18 May 2022","format":false,"excerpt":"Saudi Aramco is considering an IPO of its trading unit in a transaction that could be worth more than USD 30 bn, putting it on track to become one of the world\u2019s biggest listings this year, Bloomberg reports, citing people in the know. 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