Historic year for Talaat Moustafa Group💥

Historic year for Talaat Moustafa Group💥

Talaat Moustafa Group’s (TMGH) real estate segment sales skyrocketed 95% in 2021 to record EGP 32.4 billion.

TMG sales breakdown📊
Real estate sales contributed to the sales last year with EGP 12.1 billion, up 2% YoY.
The company’s hotels segment recorded about EGP 1.27 billion during 2021, up 104% YoY.

While Noor Project sales reached a record of EGP 15 billion in 3 weeks & the project’s sales reached EGP 18.5 billion by the end of 2021.

More about Noor Project💡
Noor is a smart, eco-friendly city spanning over 5,000 acres. It provides a variety of residential options that cater to different needs, from small apartments to large stand-alone villas with smart space utilization.

The balance of unrecorded revenues in 2021 amounted to EGP 63 billion. 

Unrecorded Revenues🤔
Unrecorded revenue is revenue that an entity has earned in an accounting period, but which it does not record in that period.

MNHD announces earnings; proposes bonus shares🏠

Madinet Nasr Housing (MNHD) has announced its 2021 earnings, as well as a capital increase in the form of bonus shares.

More Details🧐
Madinet Nasr for Housing & Development (MNHD) reported a net profit of EGP 282.8 million in 2021, down 72% YoY. 

The company agreed to distribute bonus shares with a par value of EGP 228 million.

Why is this Important🤔
The company’s paid-in capital will go from EGP 1.8 billion to EGP 2.1 billion, an  EGP  228 million increase.

Ghazl El-Mahalla IPO to have amended oversubscription system🧐

The prospectus of Ghazl Al-Mahalla IPO will not include an oversubscription system for the first 25,000 shares. The rest of the quantity will be subject to oversubscription.

 

More Details🧐
This is the first time the oversubscription system will not be applied to IPO subscribers, in the event that the number of shares required exceeds those offered.

This means that it’s possible for an investor to subscribe to 1,000 shares & get them, as long as they’re in the first 25,000 shares subscribed in.

Subscription is expected to start before mid-March, at the latest. Trading will begin in April, according to Al Mal News.

IPO Oversubscription❎
Oversubscription rate is the rate by which shares demanded exceed the offered shares.


Why this matters🤔
This system creates a kind of justice among investors, especially small investors who usually end up with a significantly little amount of shares due to high oversubscription rates.

While 25,000 shares are a relatively small amount, the move comes as more of a test trial to gauge all parties’ satisfaction with the new method.

GB Auto to evaluate subsidiary🚗

GB Auto’s (AUTO) financial arm GB Capital for Financial Investments announced the appointment of Arqaam Capital as a financial advisor, to study investment options available to the company including “MNT Investment BV” in the Netherlands.

More Details🧐
On 15 August 2021, GB Auto announced the completion of a deal to sell part of its stake in the Dutch company, with a total value of EGP 352.6 million, bringing its stake down to 57.26% after this transaction.

It is noteworthy that the Dutch company acquires controlling stakes in two companies (Tasaheel) and (Mashrouei), which work in the field of microfinance and installment sales, respectively.

 

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