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Listing will take place in 2015 with EGP 2bn in revenues anticipated, chairman says
Deal is EFG Hermes’s second investment in green energy in last 12 months
Awad explained that this is the first time in which non-registered companies will participate in company activities following the return of the tender market at the local and regional level.
Food industry likely to be the first to have an IPO, says Karim Awad
Investment bank EFG Hermes makes EGP 20m donation to the fund
The alliance says deal will bring $230m in foreign investments.
EFG-Hermes stated that the evaluation of the IFA was “fair and unbiased”
Sawiris-led Alliance purchasing 20% stake in Hermes from shareholders remains committed even if shares restricted from sale during first year
EFG-Hermes announced Wednesday that it appointed investment bank HC Securities and Investment as financial adviser to deal
The Egyptian authority has been assessing the documents submitted by the alliance
Less than one week after Abdel Fattah Al-Sisi’s presidential victory, Sawiris family announces second investment
Company will announced IPO price next week
Reuters – Dubai-based real estate investment trust Emirates REIT said it had expanded the size of its initial public offer of shares on NASDAQ Dubai, the emirate’s first IPO since its financial crisis erupted in 2009, because of strong demand. Emirates REIT will raise $175m in the IPO, which was 3.5 times oversubscribed, by selling …
Reuters – The Cairo bourse, which dropped 2.7% last Thursday after Sisi said he would run for president, fell a further 1.9% on Sunday to trim 2014 gains to 19%. But there were signs the correction was slowing and the market closed above the intraday low. “Towards the end of today we saw a bit …
The construction company said on Sunday that it had agreed with the Egyptian army to build the homes at 13 locations around the country on land provided free by the armed forces, which own a large amount of financial assets and real estate.
Analysts expect EFG Hermes shares to maintain their upward trend in the three upcoming sessions, to reach nearly EGP 12. This comes after the board’s approval of the plan to acquire treasury shares for EGP 1bn at a minimum price of EGP 11.5 per share. The share featured a 10% upward movement during last Thursday’s …
Minister Ahmed Galal discussed in a conference call with EFG-Hermes the government’s plans to boost economy and encourage investors
All necessary regulatory approval gained before termination date of 4 May, except EFSAs
Hard to complete deal by date without EFSA approval, says EFG
Qandil expects project will attract over $100bn in investments and create 700,000 new job opportunities
Financial group says current levels ‘unsustainable’
The main EGX 30 index drops 0.18% to 5,285 points on Wednesday
Downgrade result of decrease in company revenues and increase in prices acerbated by unstable gas supplies
Actis is an emerging markets investor with US$5.2 billion funds under management. Through the expertise of over 120 investment professionals on the ground in twelve countries, Actis identifies investment opportunities in three areas: private equity, infrastructure and real estate. Daily News spoke to Actis’s Director in Egypt about the current business environment in Egypt, the challenges as well as the solutions to reposition Egypt as an attractive investment destination.
List includes former President Hosni Mubarak’s two sons, Alaa and Gamal, as well as EFG Hermes CEOs Yasser El-Mallawany and Hasan Heikal, the son of Mohamed Hassanein Heikal
Decision comes in response to Prosecutor General Tala’at Abdallah’s decision to ban the businessmen from travel
The Qatari partner will hold a 60% stake in the new venture, to be named EFG Hermes Qatar, with EFG Hermes holding the rest
The acceptance of Egypt’s pending IMF loan will have a positive effect on the economy and there will be an increase in tourism and FDI throughout the year, says EFG
Al-Saeed expects the market to resume its positive performance Wednesday despite price fluctuations.
By Islam Serour EFG Hermes released the Consolidated Financial Report for the second quarter of 2012. The report concludes that the company’s net income was EGP 27 million on total consolidated revenues worth EGP 477 million, denoting 66 percent decline, in comparison to the same period 2011. Investment Banking revenues account for 41 percent of …