amwalalghad :: EGX

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Money Markets - EGX

Hisham Ibrahim - 2017-10-18 18:23:40
Egyptian home appliances maker Unionaire Group plans for public offering in Egypt and Europe in the first half of 2018, sources with direct knowledge told Amwal Al Ghad Wednesday. The company seeks to sell some of its shares in the local stock market and in one of the European bourses, aimed at financing its future expansions and investments. “We are cooperating now with an investment bank to advise on the floatation and give technical assessment.” the sources added but declined to disclose the name of the investment bank. Unionaire is looking to develop a TV factory for the production of open cell displays with a 65 percent local components by early June 2018, the sources further told Amwal Al Ghad. More»
Amwal Al Ghad English - 2017-10-16 10:32:19
Egypt’s stock market is shaping up to become the Middle East’s hot spot for initial public offerings (IPOs) by next year. At least six companies plan IPOs by the end of 2018, following two sales since January, according to data compiled by Bloomberg. That is a marked increase on the average of three in the past three years as foreign investors fretted that a severe dollar shortage would trap their money. Between 2011 and 2014, there were no IPOs at all as the aftermath of a popular uprising destroyed the conditions for listings. The turning point came in November, when authorities removed almost all restrictions on the pound to help end the hard-currency crunch and secure a US$12 billion loan from the IMF. Hazem Barakat, the chairman of Cairo-based BPE Partners, has intended to sell shares in his private equity firm for longer than a year. He has now hired managers to oversee a share sale that could raise about 500 million Egyptian pounds (Dh102.8m) in the first quarter of 2018. “The only foreign investors in the market were the ones who couldn’t get their money out,” said Mr Barakat. “After the float, Egypt is on the investment map and people are looking at it. Now there is a chance to do an IPO.” Share trading has almost doubled, averaging 1.1bn pounds a day in the 12 months ended October 10, compared with 540m pounds a year earlier, data compiled by Bloomberg show. And foreigners have returned, their net buying of stocks tripling to $497.3m in the fiscal year to June 30. The prospects for further IPOs look promising, said Mohamed Farid, the chairman of the Egyptian Exchange. “We have plenty of requests from various companies of various sizes to list and partially float. Also there is plenty of traction when it comes to companies asking for listing requirements and trying to comply with them.” While the uptick in IPOs is a boost for Africa’s third-biggest economy after years of political and economic instability, the relatively small size of most of the planned new listings may discourage some foreigners from buying the securities. “Egypt’s market cap remains fairly underrepresented compared to the economy and liquidity is still low, although improving, which limits international participation in the market,” said Salah Shamma, Franklin Templeton Investments’ head of Middle East and North African equities. Two of the six IPOs planned for the coming months involve state-owned businesses: Engineering for the Petroleum & Process Industries; and Banque Du Caire. They are part of a government plan announced last year to raise as much as $10bn from share offerings. Better progress on that plan would attract bigger companies to market, generating greater foreign interest and higher trading volumes, Mr Shamma said. Past attempts to bring large government companies to market have proven complicated and time-consuming. Telecom Egypt was the last state-owned company to sell shares to the public more than a decade ago. Egyptian companies will also have to compete for investor money with the main event on next year’s Middle East IPO calendar: Saudi Aramco, which may sell a stake of as much as 5 per cent for what could potentially be the world’s biggest offering. In the UAE, regulators say they are working on five applications for IPOs as the country joins other GCC neighbours in diversifying its economy and reducing reliance on crude oil. “Egypt is one of the busier markets in the region, but low oil prices and ongoing economic restructuring means that we are likely to see IPOs of state-controlled assets in the GCC as well,” said EFG-Hermes’ strategist Simon Kitchen. Appetite for broader emerging market IPOs should remain robust in 2018, with Egypt in line for a “bigger piece of the pie” following the currency float. More»
Islam Salah - 2017-10-14 13:55:46
Egypt’s stock benchmark finished in the green on Thursday, posting slight weekly gains, on foreign buying appetite Indices: Benchmark EGX 30 rose 0.55 percent, to close the last day of trading this week at 13,891 points. For the week, the main gauge booked a growth of 0.07 percent. The mid- and small-cap index, EGX 70 gained 2.22 percent in a week closing at 815 points during Wednesday’s session. Price index, EGX 100 also made a weekly gain of 1.16 percent closing at 1,809 points. More»
Islam Salah - 2017-10-05 13:01:47
Egypt’s stock benchmark finished in the red on Wednesday, posting a slight week declines, driven by the central bank’s decision to raise the required reserve ratio. Bourse trading in Egypt was shut on Thursday as national holiday on October war victory anniversary. More»
Amwal Al Ghad English - 2017-10-01 06:44:02
The Egyptian bourse gained 61.1 billion pounds in the third quarter of 2017 as the market capital jumped 8.9 percent to 748.5 billion pounds from 687.4 billion pounds in the previous quarter. The report said, the EGX 30 benchmark index went up 3.68 percent to close at 13,889 points. The broader EGX 70 index of the leading smaller and mid cap enterprises (SME) increased 19.11 percent to 774 points. The all-embracing EGX 100 index also jumped 14.22 percent to close at 1,724 points. More»
Amwal Al Ghad English - 2017-09-26 10:11:36
Egypt expects an initial public offering of state-owned oil company ENPPI in the first quarter of 2018, the country’s Investment Minister Sahar Nasr told Reuters on Monday, later than initially anticipated. The minority share offering in oil company ENPPI will be the first in an Egyptian state-owned company in about 12 years. Nasr had previously said the IPO would take place before the end of 2017, part of a programme over the next three to five years to offer shares in dozens of state-owned companies. More»
Hisham Ibrahim & Sanaa Allam - 2017-09-24 17:18:58
Egyptian pump maker Allweiler Farid Pumps Co. says it plans to delay its initial public offering on the local stock market until 2020. Allweiler Farid, a joint-venture between German Allweiler GmbH and Egyptian Farid Pumps, was hoping to list this year, but a disappointing unstable exchange rate for U.S. dollar against Egyptian pound weighed on and drove the company to wait until 2020, said chief executive Hossam Farid. The company is planning to inject new investments, aimed at increasing its production capacity to 18,000 pumps from 18,000 in the coming period, Farid further told Amwal Al Ghad on Sunday. More»
Islam Salah - 2017-09-23 14:16:43
Egypt’s stock market made strong gains worth 12.8 billion Egyptian pounds ($724.6 million) over the past week. Benchmark EGX 30 rose 0.62 percent, closing on Wednesday at 13,695 points. Bourse trading in Egypt was shut on Thursday for Islamic New Year. The first day of the new Islamic calendar year is a public holiday in Egypt. More»
Amwal Al Ghad English - 2017-09-18 15:52:21
Egypt’s stock trading volumes are expected to blossom between 15 percent and 20 percent after allowing short-selling, designed to improve liquidity, chairman of the stock exchange said Monday. The bourse management is in talks with Egyptian financial regulator (EFSA) and the Egyptian Central Securities Depository House (MCDR) to introduce short-selling before the end of the current year, Mohamed Farid told Amwal Al Ghad on the sidelines of an Euromoney conference. Short-selling -- a strategy in which a speculator sells an asset that he or she does not own in order to profit from a falling market. It had never been used in Egypt’s still-developing stock market due to a lack of technical infrastructure and careful state control of the market, but the bourse has asked regulators to allow dealers to use it for a range of assets. The International Organisation of Securities Commissions (IOSCO) has also reviewed short-selling and securities lending practices across markets and has recommended transparency of short-selling, rather than prohibit it. More»
Amwal Al Ghad English - 2017-09-11 12:06:59
Egyptian financial regulator has approved the stock exchange’s decision to reduce trading halt times to 15 minutes, down from 30 minutes, as of Tuesday’s session, the exchange announced Monday. The decision will lead to a “shortening of the time for which trading can be temporarily halted on a security during a session due to a price change ... and will provide the bourse management the flexibility to increase or decrease halt times within a 15-30 minute range,” it said in a statement. The exchange currently suspends trading on stocks that rise or fall by over 5 percent for more than 30 minutes. It said on Monday the decision to halve the suspension time was aimed at increasing market activity and attracting foreign investors. More»