Aramco sells 49% stake in its natgas pipelines + FAB lines up USD 500 mn in sukuk
Aramco closes USD multi-bn sale of minority stake in natgas pipelines: An investor group led by BlackRock has acquired a 49% stake in Saudi Aramco’s natgas pipelines subsidiary for USD 15.5 bn, as the two firms enter into a pact to explore low carbon energy projects. (Bloomberg)
FAB plans sukuk sale: First Abu Dhabi Bank is on track to take a USD 500 mn Islamic bond issuance to market, Reuters reports.
Saudi IPO watch: Saudi mining firm Al Masane Al Kobra Mining Company wants to raise up to SAR 1.25 bn (USD 332 mn) when it sells a 30% stake in an IPO in Riyadh in the coming days, according to a disclosure to the Saudi exchange yesterday. The indicative price range per share was set at SAR 58-63 ahead of book-building, which started yesterday.
Fintech firm OPay wants to tap more markets in MENA: After launching in Egypt this year, Nigerian fintech player OPay is looking to enter the UAE by the end of 2022, it said in a statement (pdf) yesterday.
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EGX30 |
11,302 |
-0.0% (YTD: -5.4%) |
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USD (CBE) |
Buy 15.66 |
Sell 15.76 |
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USD at CIB |
Buy 15.66 |
Sell 15.76 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
12,528 |
-0.3% (YTD: +11.0%) |
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ADX |
9,100 |
-0.0% (YTD: +7.2%) |
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DFM |
3,336 |
+0.8% (YTD: +4.4%) |
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S&P 500 |
4,226 |
-1.8% (YTD: -11.3%) |
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FTSE 100 |
7,498 |
+0.1% (YTD: +1.5%) |
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Brent crude |
USD 96.84 |
0.0% |
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Natural gas (Nymex) |
USD 4.65 |
+0.6% |
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Gold |
USD 1,913 |
+0.1% |
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BTC |
USD 37,244 |
-1.7% (as of midnight) |
THE CLOSING BELL-
The EGX30 fell less than 0.1% at yesterday’s close on turnover of EGP 613 mn (39.7% below the 90-day average). Local investors were net buyers. The index is down 5.4% YTD.
In the green: GB Auto (+5.4%), Oriental Weavers (+3.2%) and Fawry (+1.8%).
In the red: CIRA (-1.7%), Heliopolis Housing (-1.6%) and Orascom Construction (-1.3%).