{"id":563334,"date":"2021-06-28T04:00:47","date_gmt":"2021-06-28T04:00:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/28\/only-10-egx-companies-are-attractive-to-foreign-investors-says-rencap\/"},"modified":"2021-06-28T04:00:47","modified_gmt":"2021-06-28T04:00:47","slug":"only-10-egx-companies-are-attractive-to-foreign-investors-says-rencap","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/28\/only-10-egx-companies-are-attractive-to-foreign-investors-says-rencap\/","title":{"rendered":"Only 10 EGX companies are attractive to foreign investors, says RenCap"},"content":{"rendered":"

<\/a> Only 10 EGX-listed companies have the market cap and liquidity <\/strong>to be really attractive to foreign investors<\/strong>, Amr Helal, Renaissance Capital\u2019s North Africa CEO, said at a conference yesterday, according to Al Shorouk<\/a>.<\/p>\n

Among the top of the list:<\/strong> Speaking at the Portfolio Egypt 2021 conference, Helal named leading private-sector bank CIB<\/strong>, state-run tobacco monopoly Eastern Company<\/strong>, e-payment firm Fawry<\/strong> and Cleopatra Hospitals Group<\/strong> as the most attractive EGX-listed stocks for foreign investors. Healthcare, education and fintech are all particularly hot internationally, he added.<\/p>\n

The EGX has had a rough 2021 so far:<\/strong> The benchmark EGX30 is down 5% in 2021 YTD, with foreign and institutional investors typically accounting for less than 25% of trading volumes. The bourse\u2019s regional competitors, meanwhile, are flying: The ADX is up almost 33% YTD, the Saudi Tadawul is up 26.2%, while the DFM has gained 15.2% since the start of the year.<\/p>\n

The biggest problem?<\/strong> A lack of large, listed companies on the bourse, Helal said.<\/p>\n

Are IPOs the solution?<\/strong> That\u2019s the conventional wisdom \u2014 that it\u2019s going to take large offerings of fresh paper to lure foreign investors back. Helal cautions, though, that new offerings on the EGX often fail to attract significant foreign interest when they\u2019re overpriced.<\/p>\n

As many as four companies could IPO on the EGX in the second half of this year<\/strong>, EGX boss Mohamed Farid said earlier this month<\/a>. State-owned e-payments company E-Finance is planning to go public in 2H2021<\/a> while Ebtikar\u2019s share sale is expected to take place in 4Q2021<\/a>. Meanwhile, cosmeceutical giant Macro Group is looking to pull the trigger on its IPO in the fall after postponing it in April<\/a>.<\/p>\n

RenCap has four EGX IPOs in its pipeline<\/strong>, some of which could go to market by the end of this year, while others would make their market debuts in 2022, Helal said. We know already that the EM-focused investment bank is managing E-Finance\u2019s share sale<\/a> alongside CI Capital and Pharos, and will quarterback the Macro transaction<\/a> alongside EFG Hermes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Only 10 EGX-listed companies have the market cap and liquidity to be really attractive to foreign investors, Amr Helal, Renaissance Capital\u2019s North Africa CEO, said at a conference yesterday, according to Al Shorouk. Among the top of the list: Speaking at the Portfolio Egypt 2021 conference, Helal named leading private-sector bank CIB, state-run tobacco monopoly […]<\/p>\n","protected":false},"author":1,"featured_media":563335,"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":[7303],"tags":[102,136,192,339,247,84,68,72,519,78,77,1982],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-ci-capital","tag-cleopatra-hospitals-group","tag-e-finance","tag-eastern-company","tag-efg-hermes","tag-egx","tag-enterpriseam","tag-fawry","tag-ipo-watch","tag-macro-group","tag-renaissance-capital","wpautop","entry"],"acf":{"mongo_id":"f96c834c-5413-4f69-b900-cd7bbc28258c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/343.jpg","photo_position":"above","related_issue":[563330],"teaser":"","voice_url":""},"yoast_head":"\nOnly 10 EGX companies are attractive to foreign investors, says RenCap - 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\/06\/28\/only-10-egx-companies-are-attractive-to-foreign-investors-says-rencap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Only 10 EGX companies are attractive to foreign investors, says RenCap\" \/>\n<meta property=\"og:description\" content=\"Only 10 EGX-listed companies have the market cap and liquidity to be really attractive to foreign investors, Amr Helal, Renaissance Capital\u2019s North Africa CEO, said at a conference yesterday, according to Al Shorouk. 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The change aims to make the index more diverse and\u2026","rel":"","context":"In "Capital markets"","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\/7\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564281,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/small-caps-have-until-the-end-of-the-month-to-get-a-nominated-adviser\/","url_meta":{"origin":563334,"position":1},"title":"Small caps have until the end of the month to get a nominated adviser","author":"enterpriseam admin","date":"22 August 2021","format":false,"excerpt":"The EGX is giving all listed small caps until 31 August to appoint a nominated adviser, according to a press release (pdf) from the EGX today. 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Trading under the ticker EFIH, the company rose as much as 79% to EGP 25 per share during the session before closing\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/237.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566922,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/egx30-change-up-next-week\/","url_meta":{"origin":563334,"position":4},"title":"EGX30 change-up next week","author":"enterpriseam admin","date":"28 July 2021","format":false,"excerpt":"Six companies will become constituents of the EGX30 when the latest rebalancing of the benchmark index takes effect on Sunday, the EGX said today (pdf). The EGX30 is reviewed (or \u201crebalanced\u201d) twice a year, at the beginning of February and August. Other indexes including EGX50 EWI and EGX70 EWI have\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/487.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564708,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/what-does-it-mean-for-an-index-to-rebalance\/","url_meta":{"origin":563334,"position":5},"title":"What does it mean for an index to \u201crebalance\u201d?","author":"enterpriseam admin","date":"22 February 2021","format":false,"excerpt":"Enterprise Explains: Index rebalancing. Last month, the Egyptian Exchange released new criteria for inclusion in the EGX30 in a bid to make the benchmark index more attractive to foreign investors. The new criteria came into effect on 1 February, which is when the first periodic rebalancing of each year typically\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"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\/563334","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=563334"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563334\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563335"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563334"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563334"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}