Today’s Top News & Analysis
Egypt’s PMI reaches its highest reading in 3 years
EKHO's AlexFert is back in operations
ACTF eyes 3 public and 6 private companies post the IPO
RAYA's subsidiary receives EGP550mn for operations support
MACRO
Egypt’s PMI reaches its highest reading in 3 years
Egypt’s purchasing Manager’s Index (PMI) for the non-oil private sector saw its reading in June 2024 reaching its highest level in 3 years at 49.9 vs. 49.6 in May. This comes in return to more stable operating conditions by the end of Q2 2024. The reading is still in the contraction area, however, it was almost close to reaching the growth zone at 50. (S&P Global)
CORPORATE
EKHO's AlexFert is back in operations
Alexandria Fertilizers, Egypt Kuwait Holding Co.'s [EKHO] subsidiary started operations again after the resumption of gas supply. (Company disclosure)
ACTF eyes 3 public and 6 private companies post the IPO
Act Financial's [ACTF] managing partner said that the company is eyeing 5-30% stakes in 3 public companies through this year, after the IPO, and another 6 private companies as well aiming to list them later. He added that the IPO proceeds are aimed at growing ACTF's investment portfolio. (Enterprise)
RAYA's subsidiary receives EGP550mn for operations support
Raya Holding for Financial Investments [RAYA] confirmed that its subsidiary Raya Information Technology received an EGP550mn credit financing dedicated to operations support. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
4-Jul-24
7-Jul-24
ZMID: OGM / Discussing netting contracts.
10-Jul-24
ADIB: Stock dividend / Last date for eligibility for a 0.2-for-1 stock dividend.
EFIH: Stock dividend / Last date for eligibility for a 0.249-for-1 stock dividend.
11-Jul-24
ADIB: Stock dividend / Date for distributing a 0.2 for-1 stock dividend.
EFIH: Stock dividend / Date for distributing a 0.249 for-1 stock dividend.
17-Jul-24
MICH: Stock dividend / Last date for eligibility for a 0.5-for-1 stock dividend.
18-Jul-24
MICH: Stock dividend / Date for distributing a 0.5 for-1 stock dividend.
MPC Meeting / Determining the CBE's policy rate.
EMFD: EGM / Approving increasing the issued capital & amending Articles No. 6 & 7 of the company's bylaws.
24-Jul-24
EAST: OGM / Approving the sale of a plot of land and netting contracts.
EAST: EGM / Amending Article No. 7 of the company's bylaws.
31-Jul-24
TMGH: Cash dividend / Payment date for a dividend of EGP0.11/Share (2nd installment)