{"id":611676,"date":"2023-12-11T00:00:00","date_gmt":"2023-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena\/"},"modified":"2023-12-11T00:00:00","modified_gmt":"2023-12-11T00:00:00","slug":"national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena\/","title":{"rendered":"National Investment Bank wants to sell down stake in Misr Cement Qena"},"content":{"rendered":"

State-owned <\/strong>National Investment Bank (NIB) <\/strong>wants to sell its <\/strong>10%<\/strong> stake in the EGX-listed <\/strong>cement producer Misr Cement Qena<\/strong> to a private-sector investor, Al Borsa<\/a> reported Saturday, citing anonymous sources.<\/p>\n

Advisors:<\/strong> The bank\u2019s investment bank arm, NI Capital, will launch a tender to choose an advisor for the sale, according to Al Borsa.<\/p>\n

Misr Cement denies knowledge:<\/strong> The company said it had no knowledge of the NIB\u2019s reported plans in a bourse disclosure (pdf)<\/a> yesterday.<\/p>\n

Refresher:<\/strong> Planning Minister Hala El Said said last year<\/a> that up to USD 3 bn worth of assets owned by the NIB could be offered to investors by the Sovereign Fund of Egypt (SFE). <\/p>\n

Which other NIB <\/strong>assets <\/strong>could be up for grabs?<\/strong> NIB and Banque Misr together own almost 75% of state-owned real estate firm Midar<\/a>, which the SFE is reportedly preparing to list on the EGX in 1H 2024. NIB\u2019s stakes in Al Ezz Dekheila<\/a>, Egyptian Media Production City and Misr Fertilizers Production Company (MOPCO) could also be in the cards.<\/p>\n","protected":false},"excerpt":{"rendered":"

Misr Cement denied knowledge of the report<\/p>\n","protected":false},"author":1,"featured_media":611677,"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":[7321],"tags":[72,7196,7128,3554,585,81,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-enterpriseam","tag-industry","tag-ma-watch","tag-misr-cement-qena","tag-national-investment-bank","tag-privatization-watch","tag-sovereign-fund-of-egypt","wpautop","entry"],"acf":{"mongo_id":"311fd404-3fb2-4a54-8ae8-5413f2f5d6f9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/702.jpg","photo_position":"above","homepage_title":"","full_issue_title":"National Investment Bank wants to sell down stake in Misr Cement Qena","related_issue":[611667],"teaser":"Misr Cement denied knowledge of the report","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.8f10265f-7f04-4186-86eb-6151385312ff.mp3"},"yoast_head":"\nNational Investment Bank wants to sell down stake in Misr Cement Qena - 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Al Ahly for Development and Investment\u2019s consolidated net profit fell to EGP 1.15 mn in 9M2020, down from EGP 11.26 mn in the\u2026","rel":"","context":"In "Speed Round"","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":651451,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/13\/earnings-watch-union-national-bank-and-misr-cement-report-fy2016-results\/","url_meta":{"origin":611676,"position":1},"title":"Earnings watch: Union National Bank and Misr Cement report FY2016 results","author":"enterpriseam admin","date":"13 February 2017","format":false,"excerpt":"**Earnings watch: Union National Bank reported a 12.8% y-o-y rise in net profit to in FY2016 to EGP 180.5 mn from EGP 160 mn a year ago, the bank said in a statement. 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The company's revenues inched down to EGP 242.5 mn over the course of 1H2020 from reported revenues of EGP 242.7 mn in 1H2019,\u2026","rel":"","context":"In "Speed Round"","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":576255,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/17\/earnings-fawry-phd-al-ahly-for-development-and-investment-adib-misr-cement-qena\/","url_meta":{"origin":611676,"position":3},"title":"Earnings: Fawry, PHD, Al Ahly for Development and Investment, ADIB, Misr Cement (Qena)","author":"enterpriseam admin","date":"17 November 2020","format":false,"excerpt":"EARNINGS WATCH- Fawry\u2019s net profit surged 99% y-o-y in 9M2020 to EGP 119.1 mn from EGP 59.7 mn last year, according to a company earnings release (pdf). Revenues rose 45% to EGP 892.7 mn from EGP 614.9 mn last year. \u201cFawry\u2019s top line continues to grow at a rapid clip\u2026","rel":"","context":"In "Speed Round"","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":596830,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/09\/el-nahda-cement-to-partially-suspend-main-production-line-for-6-months-amid-low-sales-and-oversupply\/","url_meta":{"origin":611676,"position":4},"title":"El Nahda Cement to partially suspend main production line for 6 months amid low sales and oversupply","author":"enterpriseam admin","date":"9 July 2019","format":false,"excerpt":"Another cement factory on the ropes? El Nahda Cement has decided to partially suspend the main production line at its Qena factory for six months after sales fell due to oversupply, sources told Al Mal. The Chemical Industries Holding Company increased its stake in El Nahda to 50% earlier this\u2026","rel":"","context":"In "Speed Round"","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":558439,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/state-owned-nib-prepares-for-liquidation\/","url_meta":{"origin":611676,"position":5},"title":"State-owned NIB prepares for liquidation","author":"enterpriseam admin","date":"10 August 2021","format":false,"excerpt":"SMART POLICY- State-owned NIB prepares for liquidation: The government is moving ahead with its plan to liquidate the National Investment Bank (NIB) and is in talks with investors to sell off some of the bank\u2019s subsidiaries as part of a reform plan agreed with the IMF last year, the financial\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/133.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\/611676","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=611676"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611676\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/611667"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/611677"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=611676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=611676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=611676"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=611676"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=611676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}