• Sunday, 18 September 2022

    US stocks hit two month lows + investors are starting to come back to frontier-market African debt

    Another grim week for US equities: The three major US stock indices dropped to two-month lows on intensified recession fears at the end of last week, Reuters reports. Markets plunged on warnings from FedEx of an economic slowdown as it...
  • Sunday, 18 September 2022

    Act Financial plans to IPO in the new year

    Act Financial aims to offer up to a 40% stake on the EGX by early 2023, Managing Partner and Co-Founder Mostafa Abdel Aziz tells Enterprise.Financial advisors TBA: Act Financial has appointed Matouk Bassiouny & Hennawy as its legal counsel and...
  • Thursday, 15 September 2022

    Eni wants to go big on LNG, and that’s good for Egypt

    Eni wants Italy to go big on LNG: Italy must boost its LNG import capacity starting 2023 to be able to receive more imports, Eni’s CEO Claudio Descalzi said yesterday, according to Reuters. Eni is planning to work with Egypt...
  • Wednesday, 14 September 2022

    Dubai toll operator Salik’s IPO is already covered after day one of subscription period

    Dubai toll operator IPO covered within hours: Investors booked all 1.5 bn shares in Dubai’s state-owned road toll operator Salik on the first day of subscription, Bloomberg reports, indicating continued strong demand for Gulf IPOs at a time when the...
  • Wednesday, 14 September 2022

    Listing on the EGX just got a little easier + a boost to margin trading

    SMART POLICY- FRA tweaks listing procedures + scraps margin trading caps: The Financial Regulatory Authority (FRA) has handed down a slate of changes designed to boost liquidity on the EGX. At a presser yesterday, the FRA made its first major...
  • Wednesday, 7 September 2022

    Investors have a week to get their money back from Ghazl El Mahalla

    Would-be investors in Ghazl El Mahalla have a week to cancel their orders following the club’s failed IPO, according to an EGX bulletin (pdf). The 500 retail investors who subscribed to the offering have the option to pull their money...
  • Wednesday, 7 September 2022

    It’s official: Gov’t is on board with a flexible exchange rate

    “We as a government do agree that a flexible exchange rate is definitely good for the economy,” Planning Minister Hala El Said told Bloomberg yesterday in a televised interview (watch, runtime: 6:40). El Said also had news on the state...
  • Tuesday, 6 September 2022

    OPEC+ unexpectedly cuts oil supply

    And Europe learned the meaning of the word A_a… OPEC+ will cut supply in October in a surprise move meant to support oil prices, which have fallen back in recent weeks on fears of a global slowdown. The Saudi Arabia...
  • Monday, 29 August 2022

    Ghazl El Mahalla’s micro-IPO misfires in extra time

    Retail investors put in orders for just 18% of the shares made available to the public in Ghazl El Mahalla FC’s mico-IPO when the subscription period ended yesterday after multiple extensions. That means the football club will not be making...

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