• Tuesday, 9 June 2020

    FRA suspends issuing insurance licenses for a year; new regs require auditors to be insured

    REGULATION WATCH- FRA suspends issuing insurance licenses for a year; auditors will need to be insured: The Financial Regulatory Authority (FRA) has placed a one-year moratorium on issuing licenses for insurance and insurance brokers, a statement (pdf) by the authority...
  • Tuesday, 19 May 2020

    Bitumode agrees to share price in Sika Egypt’s MTO

    M&A WATCH- Modern Waterproofing (Bitumode) has agreed to the EGP 3.91 share price Sika Egypt has set in its mandatory tender offer (MTO) for 100% of Bitumode’s 119 mn shares, according to Hapi Journal. The Financial Regulatory Authority had approved...
  • Tuesday, 12 May 2020

    Alexandria Cement fair value determined to be EGP 4.02 a share

    An arm of Titan Cement Egypt will pay a significant premium to acquire the nearly 1.3% of Alexandria Portland Cement that it doesn’t already own after a fair value study said the subsidiary’s shares are worth EGP 4.02 a piece,...
  • Monday, 11 May 2020

    FRA cuts service fees on EGX trades in stimulus for market

    The Financial Regulatory Authority is cutting service fees for securities traded on the EGX to 0.005% on transactions to a maximum of EGP 250 to spur trading volumes, Hapi Journal reports. The fee was originally set at 0.00625%. Fees for...
  • Monday, 11 May 2020

    FRA approves Pioneers Holdings’ five-way MTO

    M&A WATCH- FRA approves Pioneers Holding’s acquisition of five of its subsidiaries shares: The Financial Regulatory Authority has approved Pioneers Holding non-cash mandatory tender offers to increase its share to 90% in five of its EGX-listed subsidiary companies, according to...
  • Tuesday, 28 April 2020

    FRA to review Sika Egypt’s MTO for Bitumode

    M&A WATCH- Regulator to review Sika Egypt’s MTO for Bitumode: The Financial Regulatory Authority (FRA) has received and will begin reviewing a mandatory tender offer (MTO) Sika Egypt submitted for up to 100% of Modern Waterproofing (Bitumode), according to Mubasher....
  • Monday, 27 April 2020

    FRA gives Cairo 3A the greenlight to acquire Egyptian Starch & Glucose

    M&A WATCH- Market regulator approves Egyptian Starch & Glucose MTO: The Financial Regulatory Authority (FRA) has approved Cairo 3A’s mandatory tender offer (MTO) for 100% of Egyptian Starch & Glucose Company’s (ESGC) 50.08 mn shares at a price of EGP...
  • Thursday, 16 April 2020

    FRA says Cairo 3A will have to pay nearly 1% more than expected to acquire Egyptian Starch & Glucose

    M&A WATCH- Cairo 3A will have to pay nearly 1% more than expected to acquire Egyptian Starch & Glucose after the Financial Regulatory Authority (FRA) mandated an acquisition price of EGP 8.61 per share. The EGP 8.54 per share Cairo...
  • Thursday, 9 April 2020

    TMG to issue Egypt’s first corporate sukuk after securing FRA approval

    DEBT WATCH- FRA approves Egypt’s first ever corporate sukuk issuance: The Financial Regulatory Authority (FRA) has approved Talaat Moustafa Group’s (TMG) planned EGP 2 bn corporate sukuk issuance, it said in an official statement (pdf). TMG subsidiary the Arab Company...

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.