Today’s Top News & Analysis
USD250mn phosphate factory by EMRA, East Gas Co., and IMEX
USD1bn soft loan from NBD to be secured
CCAP: Second phase of debt purchase offer oversubscribed 8x
GBCO signs an agreement with Helwan Co. for Machinery & Equipment and ITAMCO
RMDA distributes EGP0.067/share cash dividends
MACRO
USD250mn phosphate factory by EMRA, East Gas Co., and IMEX
The Ministry of Petroleum & Mineral Resources said in a statement that a shareholders agreement has been signed between the Egyptian Mineral Resources Authority (EMRA), East Gas Co., and IMEX International to establish a company focused on upgrading phosphate ores. The company's start will be through building a factory worth USD250mn investments with 1mn tons/year capacity. (Enterprise)
USD1bn soft loan from NBD to be secured
The Minister of Finance said that Egypt is seeking to secure a USD1bn soft loan from New Development Bank (NBD) by the end of 2024 or the start of 2025. (Asharq Business)
CORPORATE
CCAP: Second phase of debt purchase offer oversubscribed 8x
Qalaa Holding [CCAP] raised EGP1.7bn from shareholders in the second phase of the debt purchase offer, and it was oversubscribed 8x, according to a release sent to EGX. (Company disclosure)
GBCO signs an agreement with Helwan Co. for Machinery & Equipment and ITAMCO
GB Corp [GBCO] signed an agreement with Helwan Co. for Machinery & Equipment and the International Co. for Trade, Marketing, & Commercial Agencies (ITAMCO) to assemble and manufacture a light vehicle named Qute. (Company disclosure)
RMDA distributes EGP0.067/share cash dividends
Rameda [RMDA] will distribute cash dividends of EGP0.067/share, to be distributed in two coupons of EGP0.02/share and EGP0.05/share. Dividends imply a distribution yield of 3.2%. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
12-Jun-24
EGCH: EGM / Amending Article No. 4 of the company's bylaws.
IDHC: EGM / Amending Article No. 3 of the company's bylaws.
13-Jun-24
HELI: Cash dividend / Payment date for a dividend of EGP1.34/Share.
23-Jun-24
EGTS: OGM / Approving financial statements ending 31 Dec. 2023.
AIH: Stock dividend / Last date for eligibility for a 0.099-for-1 stock dividend.
24-Jun-24
AIH: Stock dividend / Date for distributing a 0.099 for-1 stock dividend.
BTFH: EGM / Amending Article No. 4 of the company's bylaws.
ELSH: Cash dividend / Deadline for eligibility for a dividend of EGP0.15/Share.
RMDA: Cash dividend / Deadline for eligibility for a dividend of EGP0.067/Share.
27-Jun-24
ELSH: Cash dividend / Payment date for a dividend of EGP0.075/Share (1st installment)
RMDA: Cash dividend / Payment date for a dividend of EGP0.020/Share (1st installment)
30-Jun-24
HELI: Cash dividend / Payment date for a dividend of EGP0.07/share (3rd installment).