Today’s Top News & Analysis
IFC lends Banque Misr USD234mn for MSMEs financing
USD100mn of Chinese textile investments to come into SCZone
Elsewedy Electric and Al Kharafi Group to build transform stations
Egypt Aluminium extended bidding for one more month
MACRO
IFC lends Banque Misr USD234mn for MSMEs financing
The International Financial Corporation (IFC) will provide state-owned Banque Misr with a USD234mn loan for on-lending to privately-owned micro, small, and medium-sized enterprises (MSMEs), with half of the loan earmarked for women-led businesses. (IFC)
USD100mn of Chinese textile investments to come into SCZone
The Suez Canal Economic Zone (SCZone) and a number of Chinese companies have signed agreements to establish textile projects worth USD101mn in investment in the West Qantara Industrial Zone. The statement did not provide any details on the production capacities of the project or their implementation timelines. (Cabinet)
CORPORATE
Elsewedy Electric and Al Kharafi Group to build transform stations
The Egyptian government granted contracts to Elsewedy Electric [SWDY] and the Kuwaiti Al Kharafi Group to build transform stations in Al-Alamain and Tenth of Ramadan city as a part of an EGP7bn program to establish several transformer stations. The value of the contract wasn't disclosed. (Asharq Business)
Egypt Aluminium extended bidding for one more month
Egypt Aluminium [EGAL] has postponed the final date to receive bids to renew and refurbish the current smelter for the company from October to November. (Al-Borsa)
MARKETS PERFORMANCE
Key Dates
17-Oct-23
POUL: OGM / Discussing dividends distribution.
18-Oct-23
EFIC: Cash dividend / Payment date for a dividend of EGP1.5/share (3rd installment).
23-Oct-23
ABUK: Cash dividend / Deadline for eligibility for a dividend of EGP7.00/Share.
EAST: Cash dividend / Deadline for eligibility for a dividend of EGP3.75/Share.
MICH: Cash dividend / Deadline for eligibility for a dividend of EGP3.00/Share.
24-Oct-23
ORAS: Cash dividend / Deadline for eligibility for a dividend of EGP8.51/Share.
25-Oct-23
ORAS: Cash dividend / Ex-dividend date for EGP8.51/Share.
EGAL: OGM / Approving financial statements for 2022/2023.
MCQE: Stock dividend / Last date for eligibility for a 0.33-for-1 stock dividend.
26-Oct-23
MCQE: Stock dividend / Date for distributing a 0.33 for-1 stock dividend.
ABUK: Cash dividend / Payment date for a dividend of EGP2.00/share (1st installment).
MNHD: Cash dividend / Payment date for a dividend of EGP0.075/share (2nd installment).
EAST: Cash dividend / Payment date for a dividend of EGP2.00/share (1st installment).
MICH: Cash dividend / Payment date for a dividend of EGP1.50/share (1st installment).
29-Oct-23
PRCL: OGM / Approving financial statements ending 30 June 2023.
PRCL: EGM / Amending Article No. 3 of the company's bylaws.
31-Oct-23
ORAS: Cash dividend / Payment date for a dividend of EGP8.51/share.
MCRO: Cash dividend / Payment date for a dividend of EGP0.096/share (2nd installment).