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Thursday, 19 May 2016

BY THE NUMBERS

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Pharos Holding - http://www.pharosholding.com/

Pharos Holding has been named the 2016 Mergermarket Middle East Consumer M&A Financial Adviser of the year. Pharos won the award for its role as the exclusive sell-side advisor for the following transactions: Mass Food Group’s acquisition by Kellogg Company, Halayeb’s acquisition by Danone, Misr Glass Manufacturing’s acquisition by Middle East Glass, Misryeen Cheese’s acquisition by Kamal Hagag Group, and the acquisition of 58% of the shares of Arab Dairy Products by Pioneers and 51% of the shares of Meivo International by Spimaco. Pharos edged out other short-listed finalists including Bank of America Merrill Lynch, Ernst & Young and Deloitte to win the inaugural awards. In addition to Pharos, winning financial advisors included “Barclays for advising on transactions in both the Energy and Industrials sectors, Perella Weinberg Partners for advising on Financial Services deals, Rothschild in the Pharma sector and Deutsche Bank for Real Estate.” Clifford Chance was named best legal advisor in financial services and pharma, Herbert Smith Freehills or industrials and White & Case got the nod for real estate.

USD CBE auction (Tuesday, 17 May): 8.78 (unchanged since Wednesday, 16 March)
USD parallel market (Tuesday, 17 May): 10.88-10.95 (compared to 10.82-10.85 on Sunday 15 May, Reuters)

EGX30 (Wednesday): 7,637.04 (+1.15%)
Turnover: EGP 968.4 mn (122% above the 90-day average)
EGX 30 year-to-date: 9.0%

THE MARKET ON WEDNESDAY: The EGX30 climbed 1.2% yesterday driven by the strong performance from heavyweight CIB and real estate stocks. SODIC, Palm Hills Developments, Madinet Nasr for Housing and Develop­ment were the best performing EGX30. On the flip side, Elsewedy Electric, Edita Food Industries, and Ezz Steel were the worst performers. At a market turnover of EGP 968.4 mn, local investors were the sole net sellers. Regionally, GCC markets were mostly lower with the exception of Saudi’s Tadawul, which ended the day up only 0.1%.

Foreigners:Net long | EGP + 295.1 mn
Regional:Net long | EGP + 14.1 mn
Domestic:Net short | EGP – 309.2 mn

Retail: 43.3% of total trades | 42.9% of buyers | 43.7% of sellers
Institutions: 56.7% of total trades | 57.1% of buyers | 56.3% of sellers

Foreign: 26.4% of total | 41.6% of buyers | 11.1% of sellers
Regional: 3.5% of total | 4.3% of buyers | 2.8% of sellers
Domestic: 70.1% of total | 54.1% of buyers | 86.1% of sellers

WTI: USD 47.94 (-1.05%)
Brent: USD 48.62 (-1.48%)
Gold: USD 1,260.90 / troy ounce (-1.68%)

TASI: 6,737.4 (-0.1%)
ADX: 4,311.3 (-0.3%)
DFM: 3,285.1 (-0.5%)
KSE Weighted Index: 361.8 (+0.4%)
QE: 10,010.0 (flat)
MSM: 5,952.5 (-0.1%)

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.