Today’s Top News & Analysis
Trading for T-Bills kicks off
The Egyptian government to exit Vodafone Egypt and Bank of Alexandria by June 2024
EFG Holding concludes the third bond issuance of EGP1bn for EFG Corp-Solutions
Heliopolis Housing & Development to develop a 400-acre land
MACRO
Trading for T-Bills kicks off
The Egyptian Exchange (EGX) began allowing investors to trade Treasury bills in the secondary market in a bid to boost trading. During the first trading session, traders bought and sold EGP33.9bn worth of T-bills. (Enterprise)
CORPORATE
The Egyptian government to exit Vodafone Egypt and Bank of Alexandria by June 2024
The Egyptian government is planning to exit from Bank of Alexandria and Vodafone Egypt [VODE] before June 2024, according to media sources. Moreover, the government is planning to sell Canal Co. for Mooring & Lights, several electricity power stations, and Watania for Petrol before the end of this year. (Al-Borsa)
EFG Holding concludes the third bond issuance of EGP1bn for EFG Corp-Solutions
EFG Holding [HRHO] concluded the third bond issuance of EGP1bn for its fully-owned subsidiary EFG Corp-Solutions. The issuance consists of three tranches:
· EGP15.2mn for 12 months
· EGP466mn for 36 months
· EGP531mn for 55 months.
This issuance reflects the company's ability to expand its bond issuance program, which was initially valued at EGP3bn and is currently worth EGP6bn. (Al-Mal)
Heliopolis Housing & Development to develop a 400-acre land
Heliopolis Housing & Development [HELI] plans to develop a 400-acre land plot with total investments of EGP4bn. The development plan includes the expansion of New Heliopolis in partnerships with two other developers. (Economy Plus)
MARKETS PERFORMANCE
Key Dates
25-Sep-23
IRAX: Voluntary delisting / Voluntary delisting ending date.
26-Sep-23
MICH: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
ODIN: OGM / Approving financial statements ending 30 June 2023.
ODIN: EGM / Amending Article No. 7 of the company's bylaws.
TAQA: OGM / A board reshuffle.
TAQA: EGM / Amending Article No. 24 of the company's bylaws.
27-Sep-23
BTFH: OGM / Discussing netting contracts.
28-Sep-23
EAST: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
30-Sep-23
ABUK: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
ABUK: EGM / Amending Articles No. 8, 16, 21 & 39 of the company's bylaws.
AMOC: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
IFAP: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
1-Oct-23
CIRA: OGM / Discussing dividends distribution.
3-Oct-23
Egypt PMI / September 2023 reading.
4-Oct-23
SKPC: Cash dividend / Payment date for a dividend of EGP0.40/share (2nd installment).
DAPH: Stock dividend / Last date for eligibility for a 0.1-for-1 stock dividend.
5-Oct-23
DAPH: Stock dividend / Date for distributing a 0.1 for-1 stock dividend.
11-Oct-23
ORAS: EGM / Discussing the dividend distribution of USD0.2750/share.
EFIH: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
12-Oct-23
EGTS: OGM / Approving financial statements ending 31 Dec. 2022.
EGCH: OGM / Approving financial statements ending 30 June 2023.
EGCH: EGM / Amending Article No. 3 & 21 of the company's bylaws.
17-Oct-23
POUL: OGM / Discussing dividends distribution.