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CORPORATE NEWS
First Abu Dhabi Bank [FAB] is not responsible for any market talk concerning its interest in acquiring The United Bank or Banuqe Misr’s stake in CI Capital Holding [CICH], FAB Egypt’s CEO Mohamed Abbas Fayed told CNBC Arabia in an interview. (CNBC)
Misr Fertilizers Production Co.’s [MFPC] net earnings grew to EGP2.1bn in Q1 2022 vs. EGP793mn a year earlier.
Abu Qir Fertilizers [ABUK] announced finalizing the planned maintenance related to Abu Qir III factory which took place from 7 May through 2 June 2022. (Mubasher)
The leasing and factoring arm of EFG Hermes Holding [HRHO] has closed an issuance of EGP500mn to be the first tranche in an EGP3bn program
Pioneers Properties [PRDC] result showed a consolidated net profit of EGP343mn from the start of its establishment in September 2021 to the end of March 2022, while revenues amounted to EGP2.64bn. (Mubasher)
B Investments Holding [BINV] has signed the Share Purchase Agreement with Solutions, a subsidiary of Saudi Telecom Co. [STC], to acquire a 44.7% stake in Giza Systems. (Company disclosure)