Al Ahly Pharos

Pre-Trading Thoughts


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ADQ acquired state-owned stakes in five EGX-listed companies yesterday for USD1.8 bn.

The Prime Minister gave instructions to develop a strategy to recover from the repercussions of the global crisis.

Ministry of Finance approved the Tax Authority’s proposal to not disburse export rebates to projects operating under the free zone status.

The EGP moved against the USD in local banks yesterday to record 18.45-18.55/USD.

The proceeds from real estate taxes amounted to EGP3.72 billion in 9MFY21/22 (+12.2% YoY).

Government plans to soon allow buying wheat outside of tenders to increase sources.

Finance Ministry will launch a pilot of its e-receipt system for B2C transactions this Friday, 15 April (EFIH).

JUFO is planning on installing two new milk production lines with a capacity of 80k liters/hour by July 2022 to raise efficiency and capacity. JUFO is currently trading at a FY22 P/E of 11.9x and an EV/EBITDA of 4.3x.

Emirati Agthia, one of ADQ's subsidiaries, is planning on acquiring a stake in "Abu Auf" before the latter's IPO which will take place before the end of 1H22.

DSCW will appoint another independent financial advisor to prepare another fair value report for the company's shares for the purpose of increasing the capital.

The Egyptian Electricity Transmission Company has sent an invitation to 7 companies, including SWDY, to participate in a tender for the supply of cables.

HRHO completed the initial public offering of the Dubai Electricity and Water Authority.

Some EGP523 bn have been invested into the 18% CDs at Banque Misr and the National Bank of Egypt.

MNHD AGM approved the distribution of 228 million bonus shares, translating into a capital increase from EGP1.9 billion to EGP2.1 billion.

EgyptAir is resuming daily flights between Cairo and Moscow starting 14 April 2022.

ORWE announced the dates for its EGP1.00 DPS with the record date at 18-April and payment date at 21-April.

CIEB announced the dates for its EGP0.74 DPS with the record date at 18-April and payment date at 21-April.

ISPH’s GAM approved DPS of EGP0.10 (DY of 3.8%).


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