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Thursday, 9 November 2017

What we’re tracking on 09 November 2017

We have a flurry of IPO, M&A news and investment news to cap a fantastic week in which we’ve already been inundated with … IPO, M&A and investment news. We can’t think of a better way to start the weekend, so read on.

EGX Chairman Mohamed Farid discussed plans to attract investment to the Egyptian market at EFG Hermes’ 7th Annual London Conference. First and foremost, the macroeconomic climate speaks for itself and will play the major role in attracting investments, Farid said (pdf). He named tourism, ICT and construction as sectors of particular interest given their recent rebound. On improving liquidity and governance at the bourse, Farid pointed to measures including setting a minimum limit on number of shares companies must offer to be listed. “It’s important for us to look at the quality of both companies and the disclosures which are presented to investors,” he added. Diversifying the EGX through the listing of state-owned companies is expected to be an important draw for investors, he said. He also confirmed the exchange plans to introduce new products including derivatives and short-selling.

Today the final day of the conference,which brought together 290 fund managers and institutional investors for meetings with 130 presenting companies, representing 10 industries and 20 countries.

A 40-company delegation from the British Egyptian Business Association is also in theUK for Friday’s MENA Britain Trade Expo, where infrastructure, financial services, renewable energy, and oil will be in the limelight.

Itching to start the weekend? The New York Times has a rundown of the “Holiday Season’sBiggest Video Games and Consoles” that’s definitely worth a quick look. Even for you non-video game geeks, there’s some great Christmas present ideas in there that could make some people we know very happy.

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.