Today’s Top News & Analysis
Egypt looking to collect USD1bn from expat car initiative
More Panda bonds issuance
More wind energy projects for Orascom Construction and Scatec
Shell and North Petroleum join the bidding on Wataniya
MACRO
Egypt looking to collect USD1bn from expat car initiative
Egypt is looking to collect USD1bn from reopening expat car initiative again. The Egyptian government has collected c.USD800mn in the first round of the program. (Asharq Business)
More Panda bonds issuance
The Egyptian government is looking to issue USD500mn panda bonds in October and November, with plans to borrow atleast USD1.5bn before the end of the current year. The government is also finalizing a syndicated loan work USD500mn with a group of banks. (Enterprise)
CORPORATE
More wind energy projects for Orascom Construction and Scatec
An Egyptian government committee is studying two separate offers from Orascom Construction [ORAS] and Scatec, for projects in wind energy production in Egypt until 2029, with a total capacity of up to 6 gigawatts, according to media sources. (Asharq Business)
Shell and North Petroleum join the bidding on Wataniya
Shell and North Petroleum International has joined the bidding race on National Petroleum Co. (Wataniya), according to media sources. Currently, Taqa Arabia [TAQA], Abu Dhabi National Oil (Adnoc), and Emirates National Oil (ENOC), among a consortium of Shell and Petromin, and the Chinese North Petroleum International are in the due diligence process, with plans to finalize the deal before the end of the year, and to be paid fully in USD. (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).