Back to the complete issue
Thursday, 27 October 2016

Real estate developer and cement company could list on EGX by year-end –Omran

Real estate developer Misr Italia and a cement company listed on the Egyptian Exchange before year-end, with listing procedures are underway, EGX president Mohamed Omran told Reuters in a piece picked up by Al Borsa. The EGX is seeking a link with the Bahrain Bourse in 1H17 which would allow Egyptian investors to trade there through brokers and vice versa; an EGX delegation visited Bahrain recently. (We have zero inside information, but would caution that while Misr Italia may obtain approval to list, that’s very different from it pulling off an IPO in the current climate. We remain pretty bearish on the outlook for IPOs in the next few months — we need to pull off devaluation a convincing devaluation and show a few months of stability before any offering that comes to the market would look (a) appealingly priced and (b) sufficiently de-risked from the FX side of the equation.)

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.