• Thursday, 5 March 2020

    Egypt’s ECHEM planning EGP 1 bn sukuk issuance

    DEBT WATCH- ECHEM planning EGP 1 bn sukuk issuance: The Egyptian Petrochemicals Holding Company (ECHEM) is considering issuing EGP 1 bn-worth of sukuk to help finance its subsidiaries’ ongoing projects, Al Shorouk reported, citing company sources. The issuance would make...
  • Thursday, 5 March 2020

    STC begins Vodafone Egypt due diligence

    M&A WATCH- STC begins Vodafone Egypt due diligence: Saudi Telecom (STC) has begun doing due diligence on Vodafone Egypt ahead of a possible USD 2.4 bn acquisition of Vodafone Group’s 55% stake in the company, unnamed sources told Youm7. The...
  • Tuesday, 3 March 2020

    Palm Hills Egypt board approves purchase of 62 mn treasury stocks

    Palm Hills Development’s (PHD) board of directors approved the purchase of 62.351 mn treasury stocks to hedge against the "unjustified" drop in the company's stock price on the Egyptian Exchange (EGX), according to a regulatory filing (pdf). The decision comes...
  • Monday, 2 March 2020

    Egypt’s FRA suspends 3-day notice requirement for treasury stock purchases

    REGULATION WATCH- Market regulator suspends three-day notice requirement for listed companies’ treasury stock purchases: The Financial Regulatory Authority (FRA) introduced a new temporary rule that will allow EGX-listed companies looking to purchase treasury stocks to notify the bourse on the...
  • Tuesday, 25 February 2020

    The FRA is working on amending reinsurance activity guidelines

    REGULATION WATCH- Regulator working on amending reinsurance activity rules: The Financial Regulatory Authority (FRA) is working on amendments to the regulations governing reinsurance activity under the Insurance Act, FRA deputy head Reda Abdel Moaty said, according to Hapi Journal. The...
  • Monday, 24 February 2020

    Central Bank of Egypt amends its initiative to ease debt relief procedures

    CBE eases debt repayment terms for financially distressed companies: The Central Bank of Egypt (CBE) will renegotiate debt repayment terms with individual companies seeking help through its initiative to support financially distressed firms, according to an official release (pdf). The...
  • Wednesday, 12 February 2020

    CIAF to submit prospectus for USD 50 mn sukuk issuance to the FRA within 2 weeks

    DEBT WATCH- CIAF to submit prospectus for USD 50 mn sukuk issuance to market regulator within two weeks: Aircraft leasing company CIAF will be ready to submit a prospectus for its USD 50 mn sukuk issuance to the Financial Regulatory...
  • Monday, 10 February 2020

    Telecom Egypt receives three offers to advise on STC Vodafone MTO

    M&A WATCH- EFG Hermes, CI Capital, HSBC and Citibank are in the running to advise TE on STC’s Vodafone MTO: Telecom Egypt (TE) has solicited offers from four investment banks to advise the company as it weighs options for its...
  • Tuesday, 4 February 2020

    Egypt’s FRA grievance committee rejects Adeptio’s complaint over Americana MTO dispute

    DISPUTE WATCH- Grievance committee rejects Adeptio’s cases against the FRA over Americana MTO dispute: The Financial Regulatory Authority’s (FRA) grievance committee has rejected Adeptio’s appeal against the market regulator’s decision to reject its mandatory tender offer (MTO) for a minority...

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.