{"id":582815,"date":"2023-02-27T00:00:00","date_gmt":"2023-02-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/27\/ibnsina-to-invest-egp-200-this-year-plus-kima-e-finance-aman-luberef\/"},"modified":"2023-02-27T00:00:00","modified_gmt":"2023-02-27T00:00:00","slug":"ibnsina-to-invest-egp-200-this-year-plus-kima-e-finance-aman-luberef","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/27\/ibnsina-to-invest-egp-200-this-year-plus-kima-e-finance-aman-luberef\/","title":{"rendered":"Ibnsina to invest EGP 200 this year. Plus: Kima, e-finance, Aman, Luberef"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INVESTMENT-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Ibnsina Pharma to invest up to EGP 200 mn in 2023:<\/span><span style=\"\"> EGX-listed pharma player <\/span><span>Ibnsina Pharma plans to invest as much as EGP 200 mn to add warehouses and strengthen its meds distribution network this year, IR director <\/span><span>Mohamed Shawky<\/span><span>told Enterprise<\/span><span>. The company could separately deploy more funds to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/08\/ibnsinas-investment-arm-to-pour-egp-440-mn-into-logistics-firm-57558\/\" style=\"\">investment arm AIM<\/a><\/span><span>, he said. <\/span><span>The company invested some EGP 126.7 <\/span><span>mn in its core business in the first nine months of 2022, according to its latest <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2022\/11\/Ibnsina-3Q-2022-EN.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. It also spent EGP 430 mn to acquire El Shorouk Hospital, while EGP 200 mn was used to buy back shares, Shawky said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">El Shorouk Hospital o<\/span><span style=\"font-weight:700\">pen for business: <\/span><span style=\"\">Ibnsina Pharma has begun trial operations at its <\/span><span>Shorouk City hospital ahead of a full launch by the end of 1Q 2023, Shawky added. The company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition-71526\/\" style=\"\">acquired the hospital<\/a><\/span><span style=\"font-weight:400;\"> last May. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INDUSTRY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Kima wants to raise USD 300 mn: <\/span><span style=\"\">EG<\/span><span style=\"\">X-listed, <\/span><span style=\"\">state-controlled<\/span><span style=\"\"> Egyptian Chemical Industries (Kima) is <\/span><span>looking to secure USD 300 mn to fund its nitric acid and ammonium nitrate project \u2014 either through a loan or by partnering with a strategic investor, company head Abdelmeguid Hegazy told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3IqtyC4\" style=\"\">Al Mal<\/a><\/span><span>. The company is set to sign contracts for the project within three months with Italian contractor Maire Tecnimont, with whom Kima late last year <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi-84174\/\" style=\"\">settled a dispute<\/a><\/span><span style=\"font-weight:400;\"> over former projects. It will produce some 600k tons of nitric acid and 800k tons of ammonium nitrate annually once operational, with construction expected to take two years. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Green ammonia in the works: <\/span><span style=\"\">Kima is also looking into adding three production lines at its <\/span><span style=\"font-weight:400;\">existing fertilizer facilities to produce some 400k tons of green ammonia annually, Hegazy reportedly said. Al Ahly Pharos is advising the firm on both projects.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NON-BANK FINANCIAL SERVICES-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Aman could be preparing a sukuk issuance:<\/span><span style=\"\">Raya Holding\u2019s non-banking financial <\/span><span>services outfit Aman Financial Services could issue EGP 500 mn in sukuk this year, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/bit.ly\/3m7caea\" style=\"\">Hapi Journal<\/a><\/span><span> reported, citing statements by CEO Hazem Moghazy. The company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/13\/rayas-aman-financial-services-issues-egp-400-mn-in-securitized-bonds-96642\/\" style=\"\">issued EGP 403 mn<\/a><\/span><span style=\"font-weight:400;\"> in securitized bonds a few weeks ago, kicking off a EGP 5 bn securitization program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FINTECH- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">e-Finance x Giesecke+Devrient:<\/span><span style=\"\"> State-owned tech company e-Finance signed a <\/span><span>cooperation agreement with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.gi-de.com\/en\/\" style=\"\">Giesecke+Devrient<\/a><\/span><span> (G+D) that could see the German security tech company debut new card issuance and digital payments services in Egypt, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2023\/02\/e-finance-GD.pdf\" style=\"\">press release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ENERGY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Petrojet awarded USD 150 mn Luberef contract: <\/span><span style=\"\">Saudi Aramco\u2019s refining unit has <\/span><span>awarded s<\/span><span>tate-owned oil and gas contractor Petrojet a SAR 555 mn (c. USD 150 mn) contract to expand its base oils plant in Yanbu, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SuG08G\" style=\"\">a<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SuG08G\" style=\"\">disclosur<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SuG08G\" style=\"\">e<\/a><\/span><span> to the Saudi stock exchange.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTMENT- Ibnsina Pharma to invest up to EGP 200 mn in 2023: EGX-listed pharma player Ibnsina Pharma plans to invest as much as EGP 200 mn to add warehouses and strengthen its meds distribution network this year, IR director Mohamed Shawkytold Enterprise. The company could separately deploy more funds to its investment arm AIM, he [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582816,"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":[7209],"tags":[111,616,88,339,93,72,183,6761,7115,1414,125,131,2324,427,614,280],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-aman-financial-services","tag-debt-watch","tag-e-finance","tag-energy","tag-enterpriseam","tag-fintech","tag-gieseckedevrient","tag-healthcare","tag-ibnsina-pharma","tag-investment-watch","tag-manufacturing","tag-petrojet","tag-pharma","tag-raya-holding","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"5839f69f-ba4e-493e-ae4c-b3f09b3e1b63","is_powered_by":true,"story_type":"1","photo_url":"http:\/\/enterprise.press\/wp-content\/uploads\/2023\/02\/Ibnsina-Pharma-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582796],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.d7f0f64c-7203-4aac-9bd4-d4c9ff3a1717.mp3"},"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>Ibnsina to invest EGP 200 this year. 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The company is also planning to dedicate a portion of its investments to launching a website for online purchases, Shawky said, without providing additional details or a\u2026","rel":"","context":"In &quot;Health + Education&quot;","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555254,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/ibnsinas-investment-arm-to-pour-egp-440-mn-into-logistics-firm\/","url_meta":{"origin":582815,"position":1},"title":"Ibnsina\u2019s investment arm to pour EGP 440 mn into logistics firm","author":"enterpriseam admin","date":"8 November 2021","format":false,"excerpt":"EGX-listed Ibnsina Pharma\u2019s investment arm AIM is investing EGP 440 mn to establish a logistics service provider, Ramp Logistics, according to an EGX disclosure (pdf). The third-party logistics business is set to provide warehousing and transport services, and will be 99% owned by AIM.Ramp Logistics is planning both sector and\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/359.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576098,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/10\/ibnsina-pharma-acquires-75-stake-in-egyptian-digital-pharmacy-app-3elagi\/","url_meta":{"origin":582815,"position":2},"title":"Ibnsina Pharma acquires 75% stake in Egyptian digital pharmacy app 3elagi","author":"enterpriseam admin","date":"10 November 2020","format":false,"excerpt":"M&A WATCH- Ibnsina Pharma has acquired a 75% stake in digital pharmacy platform and app 3elagi, according to an EGX disclosure (pdf). The remaining 25% of the business continues to be held by the founders, who will remain onboard. 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The new funds would bring the company\u2019s total investments to EGP 700 mn, a target\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":560270,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/ibnsina-to-distribute-bayer-meds-in-egypt-rameda-looks-to-invest\/","url_meta":{"origin":582815,"position":4},"title":"Ibnsina to distribute Bayer meds in Egypt, Rameda looks to invest","author":"enterpriseam admin","date":"22 February 2021","format":false,"excerpt":"Ibnsina Pharma has signed an agreement with Germany\u2019s Bayer to import and distribute products from its OTC and Rx-based portfolios, the companies said in a joint statement (pdf) today. Bayer wants to grow in Egypt: Bayer Consumer Health wants to increase sales by 30% in 2021 after recording sales of\u2026","rel":"","context":"In &quot;PHARMA&quot;","block_context":{"text":"PHARMA","link":"https:\/\/enterpriseam.com\/egypt\/category\/pharma\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/314.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598044,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/earnings-watch-ibnsina-pharma-amer-group-ode\/","url_meta":{"origin":582815,"position":5},"title":"Earnings watch: Ibnsina Pharma, Amer Group, ODE","author":"enterpriseam admin","date":"13 May 2019","format":false,"excerpt":"EARNINGS WATCH- Ibnsina Pharma 1Q2019 profits surge 46.6% y-o-y on rapid business growth: Medical products distribution company Ibnsina Pharma reported net profits of EGP 41 mn in 1Q2019 compared to EGP 28 mn a year earlier, a 46.6% y-o-y increase, the company said in a statement (pdf). 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