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Sunday, 25 April 2021

Also on our Radar on 25 April 2021

EFG Hermes Corp Solutions has received some EGP 500 mn-worth of loan requests from brokerages looking to finance margin trades for their clients after the Financial Regulatory Authority recently moved to allow non-bank lenders to bankroll equity purchases on margin through brokerages.

Other things we’re keeping an eye on this morning:

  • National Housing Company sold its Meridien Heliopolis hotel for EGP 605 mn to IMEX International, according to a bourse statement (pdf).
  • China State Construction Engineering Corporation is in talks with Banque Misr to obtain an EGP 3.5 bn loan to help fund its construction of five residential towers in New Alamein.

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