Today’s Top News & Analysis
Qatar Investment Authority is looking to invest in Safaga port
The Egyptian Multi-Purpose Terminal will have a trial opening within hours
Ministry of Agriculture releases tons of corn and soybeans
Egypt to establish a company to receive investments from Egyptians working abroad
Hassan Allam, Orascom Construction and Samcrete seeking an EGP4bn loan
Egypt Aluminum to appoint an IFA for its fair value study
PIF eyes increasing its stake in EIPICO
Vodafone Egypt is looking to invest in new cell towers
An Elsewedy Electric subsidiary wins a contract for low-voltage cables
B.TECH plans to issue its first securitized bonds
MACRO
Qatar Investment Authority is looking to invest in Safaga port
Qatar Investment Authority (QIA) is reportedly in talks with the Egyptian government to develop and manage Safaga port under a 25-year contract. (Asharq Business)
The Egyptian Multi-Purpose Terminal will have a trial opening within hours
The Alexandria Port Authority will undertake a trial opening of The Egyptian Multi-Purpose Terminal (EGMPT) within hours. We note that Alexandria Containers & Cargo Handling [ALCN] owns a 13% stake in EGMPT. (Al-Mal)
Ministry of Agriculture releases tons of corn and soybeans
It has been reported that Egypt’s Ministry of Agriculture released a cargo of seeds from 16 October 2022 through 17 November 2022. A total of 756,000 tons were distributed: 532,000 tons of corn and 224,000 tons of soybeans. (Mubasher)
Egypt to establish a company to receive investments from Egyptians working abroad
The Egyptian government will establish a company dedicated to receiving investments from Egyptians working abroad. The company is planned to start operations next year and to be listed in the capital market later on. (Economy Plus)
CORPORATE
Hassan Allam, Orascom Construction and Samcrete seeking an EGP4bn loan
Hassan Allam, Orascom Construction [ORAS] and Samcrete start negotiation with several banks to acquire almost EGP4bn of financing to build four new logistic zones. (Economy Plus)
Egypt Aluminum to appoint an IFA for its fair value study
Egypt Aluminum [EGAL] is looking to appoint an independent financial advisor to determine its fair value ahead of a potential acquisition by Saudi Arabia’s sovereign wealth fund. (Al-Borsa)
PIF eyes increasing its stake in EIPICO
The Saudi Public Investment Fund (PIF) looks to increase its stake in EIPICO [PHAR] through PHAR's planned capital increase. (Al-Mal)
Vodafone Egypt is looking to invest in new cell towers
Vodafone Egypt [VODE], 45% owned by Telecom Egypt [ETEL], is looking to invest in new cell towers in the New Administrative Capital, Damietta, and New Mansoura City to accommodate demand in those cities. VODE is also looking to acquire new types of cell towers that are more environmentally friendly. (Al-Mal)
An Elsewedy Electric subsidiary wins a contract for low-voltage cables
Egytech, a subsidiary of Elsewedy Electric [SWDY], won a contract to supply 50km of low-voltage electricity cables to the North Cairo Electricity Co. (Al-Mal)
B.TECH plans to issue its first securitized bonds
In order to finance its consumer finance operations, B.TECH plans to issue more than EGP1.0bn in securitized bonds by end of 2022. (Enterprise)
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