{"id":557929,"date":"2021-09-13T13:29:15","date_gmt":"2021-09-13T13:29:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/"},"modified":"2021-09-13T13:29:15","modified_gmt":"2021-09-13T13:29:15","slug":"tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/","title":{"rendered":"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture"},"content":{"rendered":"<p><strong>Good afternoon, <\/strong>ladies and gentlemen, to an uncharacteristically slow September news day that was pierced by new capital markets regulations. After yesterday\u2019s bid by financial regulators to make listings easier, we may see SPACs debut here in Egypt.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORIES TODAY<\/strong><\/p>\n<p><strong>#1- EGX boss Mohamed Farid wants to bring SPACs to Egypt: <\/strong>Egyptian companies wishing to go to market by acquiring or merging with another company could soon be able to do so under suggested amendments to listing rules submitted by EGX boss Mohamed Farid to the Financial Regulatory Authority for consideration, according to an EGX <a href=\"https:\/\/ent.news\/2021\/9\/EGX-SPAC-listing-statement.pdf\">press statement (pdf)<\/a>. The proposed amendments also include clauses that would ease the process of listed companies acquiring non-listed entities.<\/p>\n<p><strong>#<\/strong><strong>2-<\/strong><strong> Fawry will launch a consumer finance company with EGP 10 mn in capital, <\/strong>after its board announced it had greenlit the establishment of the entity in an <a href=\"https:\/\/ent.news\/2021\/9\/Fawry-consumer-finance-company.pdf\">EGX disclosure today (pdf)<\/a>.<\/p>\n<p><strong>#3- EFG Hermes closed its buy-now-pay-later subsidiary Valu\u2019s first EGP 323 mn securitized bond issuance<\/strong>, the firm <a href=\"https:\/\/ent.news\/2021\/9\/valU-Securitization-PRL-ENG.pdf\">announced (pdf)<\/a><sup><\/sup>, the initial tranche of a larger EGP 2 bn securitization program approved in July.<\/p>\n<p><strong>^^ We\u2019ll have chapter and verse on all three stories in tomorrow\u2019s EnterpriseAM.<\/strong><\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Egypt sees blockbuster 1H2021 for M&A: <\/strong>The value of M&A transactions in Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af294179-177a-48f4-8ea9-33dfb099500e\">more than quadrupled<\/a> y-o-y during 1H2021, seeing transactions worth more than USD 4 bn during the six-month period.<\/li>\n<li><strong>The FRA makes it easier for big companies to list on the EGX: <\/strong>The Financial Regulatory Authority (FRA) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d8882ad-0530-40c5-b5e5-e472122c978d\">will reduce<\/a> the amount of capital that companies need to offer to the public in a move designed to encourage share sales on the Egyptian bourse.<\/li>\n<li><strong>Al Nowais could sell solar licenses in Benban: <\/strong>Ten companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/507a45b0-6eca-4dea-b008-ea18d022f525\">are allegedly<\/a> in the running to purchase the Emirati energy firm\u2019s license to operate a solar plant in Aswan\u2019s Benban solar park.<\/li>\n<\/ul>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>HAPPENING NOW- Israeli PM Naftali Bennett is in Sharm El Sheikh today to meet with <\/strong><strong>President Abdel Fattah El Sisi, <\/strong>according to an Ittihadiya <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/400065164815551\">statement<\/a>. The two are set to discuss the Palestinan-Israeli peace negotiations, as well as bilateral relations between Egypt and Israel. This is Bennett\u2019s first official visit to Egypt \u2014 and the first of any Israeli PM since Benjamin Netanyahu <a href=\"https:\/\/mfa.gov.il\/mfa\/pressroom\/2011\/pages\/pm_netanyahu_meets_egyptian_president_mubarak_6-jan-2011.aspx\">visited Hosni Mubarak<\/a> just a few weeks before the 2011 revolution.<\/p>\n<p><strong>In other diplomacy news, the EU is set to begin discussions with the Foreign Ministry this week o<\/strong><strong>ver its 2021-2027 strategic cooperation priorities,<\/strong> which will determine funding priorities for both countries, <strong>h<\/strong>ead of cooperation at the EU\u2019s delegation to Egypt Ibrahim Laafia told <a href=\"https:\/\/bit.ly\/3k6mGiz\">Al Mal<\/a>. The EU is expected to disperse between EUR 50-60 mn in funding to Egypt by the end of the year to support agriculture, environmental, and training projects, Laafia said.<\/p>\n<p><strong>PSA-<\/strong> <strong>Saudi Arabia has reduced the quarantine period for travellers to the kingdom to five <\/strong><strong>days effective from 23 September<\/strong>, Saudi General Authority of Civil Aviation said in a <a href=\"https:\/\/bit.ly\/3hsRLeq\">statement<\/a>. Unvaccinated travelers and those who have received a single dose of a vaccine recognized by KSA should present a negative pcr taken within 72 hours of travel, take another pcr test within 24 hours of arriving, and a third test on day five of their quarantine \u2014after which they can end the quarantine period if the result is negative.<\/p>\n<p><strong>That includes us:<\/strong> Officials lifted a ban on direct entry from Egypt and 19 other destinations to the Kingdom <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8719b98d-593d-433d-be49-4b12295b6a6a\">last month<\/a>, though tourists and non-resident travellers are only allowed to enter to perform Umrah.<\/p>\n<p><strong>THE BIG STORY ABROAD- <\/strong><strong>The United Nations is holding a humanitarian conference in Geneva today, <\/strong>and has announced it plans to raise more than USD 600 mn in contributions for Afghanistan throughout the year, the UN said in a <a href=\"https:\/\/ent.news\/2021\/9\/Media-advisory-Afghanistan_UN_meeting.pdf\">press release (pdf)<\/a>. The Taliban\u2019s takeover of the country last month ended the flow of bns in aid to the country, putting UN funding programmes under more pressure. UN Secretary-General Antonio Guterres said that the UN has also been struggling financially, failing in some cases to dole out employee salaries, according to <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/un-seeks-600-million-avert-afghanistan-humanitarian-crisis-2021-09-12\/\">Reuters<\/a>.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Over in the GCC, Abu Dhabi National Oil Company (Adnoc) will be offering 7.5% of its <\/strong><strong>drilling unit at Dhs 2.3 <\/strong><strong>per<\/strong><strong> share, valuing the company at USD 10 bn<\/strong>, the company <a href=\"https:\/\/ent.news\/2021\/9\/ADNOC-Announces-Offer-Price-Per-Share-For-ADNOC-Drilling-IPO.pdf\">announced (pdf)<\/a> today. The company has opened subscription to UAE retail investors until 23 September, while institutional investors will have until 26 September to subscribe to the offering. ADNOC Drilling is expected to list on the ADX on or around 3 October. ADNOC\u2019s IPO comes as Abu Dhabi is working to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e75f8e9e-d4c3-4c72-9506-873a9f420f76\">revive its IPO pipeline<\/a> and following state-backed holding company ADQ announcing its plans to list before year end.<\/p>\n<p><strong>Advisors:<\/strong> Moelis & Company has been appointed as independent financial adviser, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/9\/ADNOC-Drilling_ITF-Announcement_English.pdf\">intention to float (pdf)<\/a>.<\/p>\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>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>EFG Hermes\u2019 fourth Virtual Investor Conference kicks off today<\/strong> and runs through to 21 September with the theme of \u201cAfter Reflation \u2014 FEMs in 2022.\u201d<\/p>\n<p><strong>Environment minister speaks at AmCham:<\/strong> Environment Minister Yasmine Fouad will give a speech on strategies for generating green, private sector-led growth at AmCham\u2019s virtual monthly event tomorrow. <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1385\">Register here<\/a>.<\/p>\n<p><strong>Ride-hailing app <\/strong><strong><a href=\"https:\/\/www.didiglobal.com\/\">DiDi<\/a><\/strong><strong> is launching in Egypt today<\/strong>, <a href=\"https:\/\/bit.ly\/38YhAyq\">Al Arabiya<\/a> reports. The Chinese company will launch in Alexandria before expanding to other areas of the country.<\/p>\n<p><strong>It\u2019s day four of the <\/strong><strong><a href=\"http:\/\/cibegyptiansquashopen.net\/\">CIB Egyptian Squash Open<\/a><\/strong><strong> today:<\/strong> There are eight matches on today as the bottom half of the men\u2019s and women\u2019s round three draws are decided. You can find the schedule <a href=\"http:\/\/cibegyptiansquashopen.net\/2021-day-three\">here<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\">Sahara Expo<\/a><\/strong><strong>: <\/strong>The five-day agricultural conference continues at the Egypt International Exhibition Center. The event wraps up on Wednesday.<\/p>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><strong>Tomorrow is the final day that shareholders in EK Holding can apply to convert the <\/strong><strong>trading currency of their shares from USD to EGP<\/strong>. Since 15 June, shareholders have been able to apply through their custodians to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c98a074a-4eca-44c7-9524-feb16a03d1da\">switch the currency of their shares to EGP<\/a> \u2014 but will still be able to collect their dividends in USD. The EGX will announce after 14 September the EGP rate at which the shares will be converted.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.un.org\/en\/ga\/\">UN General Assembly<\/a><\/strong><strong> starts tomorrow<\/strong> in New York and runs through to 30 September. The general debate will take place from 20-28 September. Leaders from at least 83 countries are <a href=\"https:\/\/www.nytimes.com\/2021\/09\/12\/world\/covid-united-nations-general-assembly.html\">expected to attend in person<\/a> \u2014 in contrast to last year, when the meeting was almost 100% virtual. There\u2019s no word yet on whether President Abdel Fattah El Sisi will attend in person or virtually.<\/p>\n<p><strong>Apple is holding a virtual event on Tuesday<\/strong> where we can expect a new iPhone, new AirPods and probably a new watch. Apple has scheduled the event for 7pm CLT and shows it running for two hours. <a href=\"https:\/\/www.apple.com\/apple-events\/\">You can stream it here<\/a>.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>It\u2019s interest rate week and 10 analysts <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/265b75b2-0602-4c6d-b642-e733855acbb3\">we polled<\/a><\/strong><strong> expect the central bank to leave rates <\/strong><strong>on hold<\/strong> for a seventh consecutive meeting when CBE\u2019s Monetary Policy Committee meets on Thursday. Analysts pointed to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7ce0952-23a6-4e3a-8296-21071df079fa\">the uptick in inflation<\/a> and the pressure to maintain foreign inflows into Egyptian debt.<\/p>\n<p><strong>Check out our full calendar on the web<\/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 temperature is set to drop by at least three degrees. The mercury will max out at 36\u00b0C during the day and will drop to 24\u00b0C at night.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen, to an uncharacteristically slow September news day that was pierced by new capital markets regulations. After yesterday\u2019s bid by financial regulators to make listings easier, we may see SPACs debut here in Egypt. THE BIG STORIES TODAY #1- EGX boss Mohamed Farid wants to bring SPACs to Egypt: Egyptian companies [&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":[514,68,633,519,3516,618,439,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557929","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-consumer-finance","tag-egx","tag-enterprisepm","tag-fawry","tag-ola-electric-mobility","tag-orascom-investment-holding","tag-spacs","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"35520e6a-9843-495a-876f-85ed4e86b6ae","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[557927],"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>TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture - 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\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen, to an uncharacteristically slow September news day that was pierced by new capital markets regulations. After yesterday\u2019s bid by financial regulators to make listings easier, we may see SPACs debut here in Egypt. THE BIG STORIES TODAY #1- EGX boss Mohamed Farid wants to bring SPACs to Egypt: Egyptian companies [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-13T13:29:15+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=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture\",\"datePublished\":\"2021-09-13T13:29:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/\"},\"wordCount\":1260,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"consumer finance\",\"EGX\",\"EnterprisePM\",\"Fawry\",\"Ola Electric Mobility\",\"Orascom Investment Holding\",\"SPACs\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/\",\"name\":\"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-09-13T13:29:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture\"}]},{\"@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":"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture - 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\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/","og_locale":"en_US","og_type":"article","og_title":"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture","og_description":"Good afternoon, ladies and gentlemen, to an uncharacteristically slow September news day that was pierced by new capital markets regulations. After yesterday\u2019s bid by financial regulators to make listings easier, we may see SPACs debut here in Egypt. THE BIG STORIES TODAY #1- EGX boss Mohamed Farid wants to bring SPACs to Egypt: Egyptian companies [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2021-09-13T13:29:15+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture","datePublished":"2021-09-13T13:29:15+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/"},"wordCount":1260,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["consumer finance","EGX","EnterprisePM","Fawry","Ola Electric Mobility","Orascom Investment Holding","SPACs","WHAT WE\u2019RE TRACKING TONIGHT"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/","url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/","name":"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2021-09-13T13:29:15+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/tonight-egx-seems-to-be-interested-in-spacs-too-fawry-to-launch-a-consumer-finance-company-also-read-this-satire-on-startup-culture\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"TONIGHT: EGX seems to be interested in SPACs too + Fawry to launch a consumer finance company ALSO: Read this satire on startup culture"}]},{"@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\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":557301,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/egx-could-open-the-door-for-spacs\/","url_meta":{"origin":557929,"position":0},"title":"EGX could open the door for SPACs","author":"enterpriseam admin","date":"14 September 2021","format":false,"excerpt":"Egypt could be welcoming SPACs soon, after EGX boss Mohamed Farid suggested amendments to listing rules that would allow Egyptian companies to go to market while being acquired by or merging with another company. The amendments have been submitted to the Financial Regulatory Authority (FRA) for consideration, according to an\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/178.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555101,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/02\/the-spacs-cometh\/","url_meta":{"origin":557929,"position":1},"title":"The SPACs cometh","author":"enterpriseam admin","date":"2 November 2021","format":false,"excerpt":"SPACs could be landing in Egypt soon, after the Financial Regulatory Authority\u2019s (FRA) board greenlit a proposal to allow the establishment of blank-check firms here, the regulatory body announced in a statement yesterday. The proposal, which was put forward by EGX Chairman Mohamed Farid in September, would for the first\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/283.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644053,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/19\/fras-farid-highlights-how-the-regulator-brought-new-instruments-depth-to-the-market\/","url_meta":{"origin":557929,"position":2},"title":"FRA\u2019s Farid highlights how the regulator brought new instruments + depth to the market","author":"enterpriseam admin","date":"19 September 2024","format":false,"excerpt":"Farid spoke at EFG Hermes\u2019 annual conference in London","rel":"","context":"In &quot;Spotlight&quot;","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1528.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555142,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/lets-skip-the-formalities-and-just-spac\/","url_meta":{"origin":557929,"position":3},"title":"Let\u2019s skip the formalities and just SPAC","author":"enterpriseam admin","date":"3 November 2021","format":false,"excerpt":"Two companies are already eyeing setting up SPACs in Egypt to acquire and list fintech players, Zulficar & Partners founding partner Anwar Zeidan told Enterprise, confirming a story that was originally published in Al Mal. The companies are both non-banking financial services (NBFS) players, one of which is Egyptian, while\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/302.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554899,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/21\/tonight-spac-rules-are-here-hamdok-could-be-returning-as-sudans-pm-plus-talking-regulatory-changes-on-the-egx-at-auc-epea-panel\/","url_meta":{"origin":557929,"position":4},"title":"TONIGHT: SPAC rules are here + Hamdok could be returning as Sudan\u2019s PM. Plus: Talking regulatory changes on the EGX at AUC \/ EPEA panel","author":"enterpriseam admin","date":"21 November 2021","format":false,"excerpt":"Good afternoon, ladies and gents. It\u2019s a slow start to the week, with barely any major news at home or abroad moving the needle. THE BIG STORY TODAY- SPAC rules are here: The Financial Regulatory Authority (FRA) issued today the rulesand regulations (pdf) for companies looking to establish blank-check firms\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555638,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/spac-me-the-regs-are-out\/","url_meta":{"origin":557929,"position":5},"title":"SPAC me, the regs are out","author":"enterpriseam admin","date":"22 November 2021","format":false,"excerpt":"We\u2019re one step closer to Egyptian SPACs after the Financial Regulatory Authority (FRA) yesterday issued the rulesand regulations (pdf) for investors looking to establish local blank-check firms. Announced (pdf) by the regulator yesterday, the framework sets out the capital requirements, shareholder structure and regulatory responsibilities SPAC founders will need to\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/541.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557929","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=557929"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557929\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/557927"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557929"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557929"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}