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Tuesday, 23 March 2021

Also on our Radar on 23 March 2021

A handful of things we’re keeping an eye on this morning:

  • The UAE’s Time Hotels will open this year its first two hotels in Egypt, namely the 203-room resort in Nuweiba and a 130-room hotel and conference center near El Alamein.
  • HC Securities was co-advisor (pdf) to Saudi’s Almarai on its acquisition of Bakemart UAE and Bahrain.
  • Zilla Capital has set a fair value for Assiut Islamic Trading’s shares at EGP 22.35 apiece, valuing the company at EGP 149.4 mn, the listed company said in a statement (pdf). Abu Dhabi Islamic Bank earlier this month approved a mandatory tender offer submitted by a group of shareholders for its 76% stake in the company at EGP 28.5 per share.
  • Public transport company Mowasalat Misr is planning to grow its fleet of buses to 1k from 300 within the next two years.

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