Back to the complete issue
Wednesday, 17 October 2018

Three stories we’re tracking on 17 October 2018

** #6 – Three questions lurk behind the headlines on an otherwise quiet-but-steady newsday:

  1. Will the beating handed to the shares of consumer and structured finance player Sarwa earlier this week prompt companies with IPOs now in the market to delay their offerings to 1Q2019 or beyond?
  2. Will the Madbouly government postpone the scheduled 21-25 October sale of 4.5% of cigarette maker Eastern Tobacco, which is piloting the latest of the state’s privatization drives? Government officials were reportedly meeting yesterday with the investment bankers quarterbacking to sale, but no word on timing had emerged by dispatch time today.
  3. Does SODIC’s blockbuster bid for MNHD — by all accounts Egypt’s largest-ever M&A — presage a scramble for scale among players of all sizes in the domestic real estate market?

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; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.