Today’s Top News & Analysis
Government to sell HELI to a strategic investor
Cabinet reviewed law drafts
EGAL denies receiving any acquisition offers
MACRO
Government to sell HELI to a strategic investor
Sources said the government plans to issue Heliopolis Housing and Development [HELI] for sale to a strategic investor. An IFA has valued HELI at EGP20bn which is c.26% higher than its market price. (Al-Borsa)
Cabinet reviewed law drafts
Yesterday, the cabinet reviewed some law drafts to be submitted to the parliament, including:
A law to facilitate the privatization program and the sale of state assets.
A law to give incentives to green hydrogen investors.
A law for labor rights.
A reconciliation law for the homeowners and developers that violated laws.
A law for traffic to add more penalties for traffic violations. (Enterprise)
CORPORATE
EGAL denies receiving any acquisition offers
Egypt Aluminum [EGAL] denied receiving any acquisition offers from ADQ Holding or any other investors. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
8-Nov-23
AMOC: Cash dividend / Payment date for a dividend of EGP0.45/share (1st installment).
9-Nov-23
EFIH: Cash dividend / Payment date for a dividend of EGP0.177/share
DOMT: OGM / Approving the proposed dividends.
12-Nov-23
CIRA: Cash dividend / Payment date for a dividend of EGP0.24/share
EKHO: BoD meeting / Discussing financial results.
14-Nov-23
ISPH: BoD meeting / Discussing financial results.
MSCI: MSCI's November 2023 Semi-Annual Index Review Announcement.
20-Nov-23
EGAL: Cash dividend / Deadline for eligibility for a dividend of EGP6.5/Share.
23-Nov-23
EGAL: Cash dividend / Payment date for a dividend of EGP6.5/share.
CSAG: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
CSAG: EGM / Approving increasing the issued capital & amending Article No. 3 of the company's bylaws.
TALM: OGM / Approving financial statements ending 31 August 2023 and the proposed dividends.
26-Nov-23
EFID: EGM / Discussing capital reduction & amending Articles No. 3, 6 & 7 of the company's bylaws.
27-Nov-23
ETEL: EGM / Amending Article No. 5 of the company's bylaws.
30-Nov-23
ZMID: Cash dividend / Payment date for a dividend of EGP0.10/share (2nd installment).