{"id":556530,"date":"2021-10-28T04:20:56","date_gmt":"2021-10-28T04:20:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/"},"modified":"2021-10-28T04:20:56","modified_gmt":"2021-10-28T04:20:56","slug":"fertiglobe-shares-jump-20-on-adx-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/","title":{"rendered":"Fertiglobe shares jump 20% on ADX debut"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Fertiglobe shares jumped 20% in their<\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-27\/fertiglobe-surges-20-in-abu-dhabi-debut-after-795-million-ipo?srnd=premium-middle-east&sref=mmeFTDW1\">ADX debut yesterday<\/a><\/strong> before <a href=\"https:\/\/www.adx.ae\/english\/Pages\/ProductsAndServices\/Securities\/SelectCompany\/default.aspx?listedcompanyid=FERTIGLOBE&isin=AEF000901015&pnavTitle=Fertiglobe%20plc\">closing 17.6%<\/a><a href=\"https:\/\/www.adx.ae\/english\/Pages\/ProductsAndServices\/Securities\/SelectCompany\/default.aspx?listedcompanyid=FERTIGLOBE&isin=AEF000901015&pnavTitle=Fertiglobe%20plc\">higher<\/a> at AED 3.06 per share. The joint venture between the state-owned Abu Dhabi National Oil Co. (Adnoc) and Nassef Sawiris\u2019 OCI raised some USD 795 mn in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c89de9d-f323-47a6-9a59-209d03c6b987\">last week\u2019s IPO<\/a>, pricing shares at AED 2.55 apiece. The listing was heavily oversubscribed and made the company third largest by market cap on the ADX, valuing its shares at USD 5.8 bn. You can catch the <a href=\"https:\/\/ent.news\/2021\/10\/Fertiglobe-Listing-Day-Announcement.pdf\">start of trading announcement here (pdf)<\/a>.<\/p>\n<p><strong>EFG Hermes rides the Gulf IPO rush:<\/strong> Fertiglobe\u2019s strong start follows the success of Adnoc Drilling\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01994922-f437-4041-a60a-604656fada12\">USD 1.1 bn public listing<\/a>, in which shares rose c. 30% on their debut earlier this month. Energy giant ACWA Power also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58ed4d64-31ae-49aa-a3e7-2949306b07aa\">made its debut on the Tadawul<\/a> this month, with its share price shooting up its 30% limit to SAR 72.80 following its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e23d902-42a6-45b3-a9d3-aa195d9a5c87\">USD 1.2 bn IPO<\/a>. EFG Hermes worked on all three listings, putting the investment bank on track for \u201ca landmark year\u201d in 2021, according to a <a href=\"https:\/\/ent.news\/2021\/10\/EFG-Fertiglobe-IPO-English.pdf\">statement<\/a><sup><\/sup>, which added that the firm has closed a record 23 transactions worth USD 6.1 bn so far this year.<\/p>\n<p><strong>El Salvador has bought 420 BTC after the price of the cryptocurrency slid from its <\/strong><strong>recent high<\/strong>, saying \u201c<a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1453461587948445697?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1453461587948445697%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2021-10-27%2F-el-salvador-buys-the-dip-and-acquires-another-420-bitcoins\">we just bought the dip<\/a>.\u201d El Salvador made the digital currency <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c33c37-4629-4d95-b717-515f04d47492\">legal tender<\/a> alongside the USD last month. Since then, the price of bitcoin reached a record USD 67k before nose diving to USD 58.6k by yesterday.<\/p>\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>11364.2<\/p>\n<\/td>\n<td>\n<p>+1% (YTD: +4.8%)<\/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 <\/strong><strong>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>11,807.79<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +35.9%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,853.70<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +55.7%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,864.17<\/p>\n<\/td>\n<td>\n<p>-0.07% (YTD: +14.9%)<\/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>4,578.13<\/p>\n<\/td>\n<td>\n<p>+0.07% (YTD: +21.9%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,253.27<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +12.3%)<\/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 84.61<\/p>\n<\/td>\n<td>\n<p>-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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.20<\/p>\n<\/td>\n<td>\n<p>+5.4%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,800.10<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 59,098.03<\/p>\n<\/td>\n<td>\n<p>-3.7% (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 1.0% at yesterday\u2019s close<\/strong> on turnover of EGP 1.21 bn (20.7% below the 90-day average). Foreign investors were net sellers. The index is up 4.8% YTD.<\/p>\n<p><strong>In the green: <\/strong>Aspire Capital (+3.5%), CIRA (+3.3%) and CIB (+3.1%).<\/p>\n<p><strong>In the red: <\/strong>Rameda (-5.2%), Ibnsina Pharma (-3.8%) and Egypt Kuwait Holding-EGP (-3.0%).<\/p>\n<p><strong>Asian markets are all in the red at dispatch time. <\/strong>Futures suggest a mixed open for major European benchmarks later today \u2014 and that Wall Street has a chance of opening in the green.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fertiglobe shares jumped 20% in theirADX debut yesterday before closing 17.6%higher at AED 3.06 per share. The joint venture between the state-owned Abu Dhabi National Oil Co. (Adnoc) and Nassef Sawiris\u2019 OCI raised some USD 795 mn in last week\u2019s IPO, pricing shares at AED 2.55 apiece. The listing was heavily oversubscribed and made the [&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":[298,1703,344,84,2727,72,1585,99,119,78,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556530","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-abu-dhabi","tag-adnoc","tag-cryptocurrency","tag-efg-hermes","tag-el-salvador","tag-enterpriseam","tag-fertiglobe","tag-fertilizers","tag-financial-markets","tag-ipo-watch","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"40651be6-b526-4c6d-a0e3-055621d87f32","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[556508],"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 shares jump 20% on ADX debut - 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\/28\/fertiglobe-shares-jump-20-on-adx-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fertiglobe shares jump 20% on ADX debut\" \/>\n<meta property=\"og:description\" content=\"Fertiglobe shares jumped 20% in theirADX debut yesterday before closing 17.6%higher at AED 3.06 per share. The joint venture between the state-owned Abu Dhabi National Oil Co. (Adnoc) and Nassef Sawiris\u2019 OCI raised some USD 795 mn in last week\u2019s IPO, pricing shares at AED 2.55 apiece. The listing was heavily oversubscribed and made the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-28T04:20:56+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fertiglobe shares jump 20% on ADX debut\",\"datePublished\":\"2021-10-28T04:20:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/\"},\"wordCount\":368,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Abu Dhabi\",\"ADNOC\",\"cryptocurrency\",\"EFG Hermes\",\"El Salvador\",\"EnterpriseAM\",\"Fertiglobe\",\"fertilizers\",\"Financial Markets\",\"IPO watch\",\"Planet Finance\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/\",\"name\":\"Fertiglobe shares jump 20% on ADX debut - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-10-28T04:20:56+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fertiglobe shares jump 20% on ADX debut\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Fertiglobe shares jump 20% on ADX debut - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/fertiglobe-shares-jump-20-on-adx-debut\/","og_locale":"en_US","og_type":"article","og_title":"Fertiglobe shares jump 20% on ADX debut","og_description":"Fertiglobe shares jumped 20% in theirADX debut yesterday before closing 17.6%higher at AED 3.06 per share. The joint venture between the state-owned Abu Dhabi National Oil Co. (Adnoc) and Nassef Sawiris\u2019 OCI raised some USD 795 mn in last week\u2019s IPO, pricing shares at AED 2.55 apiece. 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