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.