Pre-Trading Thoughts

Government plans to launch seawater desalination plants using renewable energy in Matrouh Governorate over 4 years

An Iraqi industrial delegation is in Egypt seeking the help of the Egyptian government and private sector to establish industrial zones and develop the country’s industrial sector

The Industrial Committee of the Parliament is in discussions with the Ministry of Industry and Trade to continue importing the 3 wheelers' (tuktuk) components (AUTO)

Ministry of Finance is committed to paying off all exporters' rebates in arrears by June 2022 (ORWE, DSCW)

FWRY and Misr Capital announced the launch of “Fawry Yawmy” money market fund

Macro Group Pharmaceuticals (MCRO) got the FRA approval for listing 45.8% (264.5 million shares) at a maximum price of EGP6.05/share

CLHO signed an agreement with “Hemocure” to establish a center of excellence for the treatment of anorectal diseases in El-Katib Hospital

SPMD terminated its MoU to acquire a 50% stake in City Labs ; finalized its acquisition of Nour El Eslam Labs and El Sharq Labs for EGP6.5 million and EGP2.5 million 

German Development Bank Green for Growth Fund (GGF) now has a license from the Central Bank of Egypt (CBE) to act as a “tier-two” capital lender for banks in Egypt

Standard Chartered has received preliminary approval from the Central Bank of Egypt to open its first branch in Egypt in the next six months

The Central Bank of Egypt has granted OFH’s subsidiary Dot Electronic Payments a license to operate its Klivvr app and payment card in partnership with the AAIB

FAIT has approved a dividend distribution of USD0.08/share, translating into EGP1.25/share with a dividend yield of 10%

MHOT reported net profit before tax in 1H20/21 of EGP151.1 million, compared to net loss of EGP106.5 million in 1H19/20