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Egypt is in talks with Chinese officials to issue CNY-denominated bonds in the world’s second-largest bond market, Finance Minister told Enterprise. The minister declined to be specific about the size of the potential offering.
The Madbouly cabinet will soon review a bill that, if passed, would allow businesses to deduct the healthcare tax from taxable income, Finance Minister said.
MPC meets tomorrow to look into rates. Despite the considerable negative real interest rate, we do not see an urgent need for the CBE to hike rates for the time being, because of inflation outlook, the decline in global commodity prices and high cost of raising rates on state budget.
The National Authority for Tunnels (NAT) yesterday inked a preliminary agreement with German railway operator Deutsche Bahn and SWDY to manage and operate the three lines of our planned high-speed rail network.
12 local firms were awarded the construction works of main and regional stations of the first phase of the high-speed rail line. ORAS was awarded the construction of only one station.
EFIC 2Q22 bottom line amounted to EGP264 million (+12% QoQ, +6.35x YoY). 1H22 bottom-line recorded EGP500 million, up by 5.62x compared to 1H21. EFIC is currently trading at 2022 P/E of 2.0x and EV/EBITDA of 0.9x.
FRA approved Expedition Investments’ bid to acquire a 34% stake in DOMT. DOMT is currently trading at a FY22 P/E of 9.2x and an EV/EBITDA of 6.6x.
Auf Group has acquired a 75.5% stake in Modern International Confectionery Co (MICC), according to local media. MICC was already a supplier to Auf Group prior to the acquisition that produces a wide range of pretzels as well as soft and hard candies.
MNHD shareholders rejected OCDI’s request to conduct due diligence for the acquisition of MNHD.
AMER reported 2Q22 net loss of EGP4.7 million, compared to 1Q22 net profit of EGP17.0 million, bringing 1H22 net profit to EGP12.3 million, down 85.4% y/y. The Board agreed to seek FRA’s opinion on AMER’s proposed split into two companies (real estate and hospitality).
Raya Holding’s net income rose 14% y-o-y in 1H 2022 to EGP 144 mn, Revenues were up 10% during the first six months of the year, coming in at just over EGP 9.1 bn.
IDHC’s CEO Hend El Sherbini has raised her stake in the company from 25.5% to 26.71%.
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By Al Ahly PharosEgypt is in talks with Chinese officials to issue CNY-denominated bonds in the world’s second-largest bond market, Finance Minister told Enterprise. The minister declined to be specific about the size of the potential offering.
The Madbouly cabinet will soon review a bill that, if passed, would allow businesses to deduct the healthcare tax from taxable income, Finance Minister said.
MPC meets tomorrow to look into rates. Despite the considerable negative real interest rate, we do not see an urgent need for the CBE to hike rates for the time being, because of inflation outlook, the decline in global commodity prices and high cost of raising rates on state budget.
The National Authority for Tunnels (NAT) yesterday inked a preliminary agreement with German railway operator Deutsche Bahn and SWDY to manage and operate the three lines of our planned high-speed rail network.
12 local firms were awarded the construction works of main and regional stations of the first phase of the high-speed rail line. ORAS was awarded the construction of only one station.
EFIC 2Q22 bottom line amounted to EGP264 million (+12% QoQ, +6.35x YoY). 1H22 bottom-line recorded EGP500 million, up by 5.62x compared to 1H21. EFIC is currently trading at 2022 P/E of 2.0x and EV/EBITDA of 0.9x.
FRA approved Expedition Investments’ bid to acquire a 34% stake in DOMT. DOMT is currently trading at a FY22 P/E of 9.2x and an EV/EBITDA of 6.6x.
Auf Group has acquired a 75.5% stake in Modern International Confectionery Co (MICC), according to local media. MICC was already a supplier to Auf Group prior to the acquisition that produces a wide range of pretzels as well as soft and hard candies.
MNHD shareholders rejected OCDI’s request to conduct due diligence for the acquisition of MNHD.
AMER reported 2Q22 net loss of EGP4.7 million, compared to 1Q22 net profit of EGP17.0 million, bringing 1H22 net profit to EGP12.3 million, down 85.4% y/y. The Board agreed to seek FRA’s opinion on AMER’s proposed split into two companies (real estate and hospitality).
Raya Holding’s net income rose 14% y-o-y in 1H 2022 to EGP 144 mn, Revenues were up 10% during the first six months of the year, coming in at just over EGP 9.1 bn.
IDHC’s CEO Hend El Sherbini has raised her stake in the company from 25.5% to 26.71%.
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EnterpriseAM | Egypt
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