EFG Hermes Appoints Financial & Legal Consultants for FAB Offer📝

Local Pickup🌇

EFG Hermes Appoints Financial & Legal Consultants for FAB Offer📝

EFG Hermes (HRHO) has appointed an international financial consultant & an Egyptian legal consultant to advise on the MTO by First Abu Dhabi Bank (FAB).


More Details🧐 On FAB’s side, the Emirati bank hired Rothschild & Co., one of the world’s largest independent financial advisory groups, as well as Matouk Bassiouny firm as a legal consultant.

Why is this Important🤔 According to Al Shorouk, FAB will raise its offer of EGP 19/share according to the results of the fair value study, as FAB considers the acquisition of HRHO a top priority this year.

Brmaja Lists Shares on MCDR Registry Ahead of EGX IPO🔔

Digital marketing & information technology company “Brmaja” has completed the listing of its shares on Misr for Central Clearing, Depository & Registry (MCDR) database, ahead of its IPO on the EGX.

More Details🧐 Brmaja currently operates in 16 countries, eight in the MENA region, & eight around the world. The company sees the Egyptian market being key to reaching African & Global markets. 

Brmaja is targeting $180 million in business transactions over the next five years. 

Why is this Important🤔 Brmaja had shown intentions of listing a 20% stake on the EGX back in November of 2021, & would use the proceeds to expand regionally through acquisitions.

The company has main operations in Saudi Arabia, Egypt, the U.S., England, & Canada, to name a few.

Dice’s EGM Approves Capital Increase💰

Dice Sport & Casual Wear’s (DSCW) extraordinary general meeting (EGM) has approved the increase of both its authorized & paid-in capital.

More Details🧐 DSCW’s authorized capital will increase from EGP 300 million to EGP 500 million, while its paid-in capital will go from EGP 106 million to EGP 371 million.

The capital increase will come in the form of a rights issue to existing shareholders, who would be able to subscribe at a par value of EGP 0.20/share, distributed over 1.32 billion shares.

Why is this Important🤔 DSCW closed down 5.45% at the end of yesterday’s trading session.

Global Pickup🌎

Shares of Splunk Soar Following Offer from Cisco📈

Shares of Splunk Technology (NASDAQ: SPLK), an American software company, soared as much as 16% following reports that Cisco (NASDAQ: CSCO) are preparing a $20 billion acquisition offer.

More on Splunk👨‍💻 Splunk offers technology that allows monitoring & searching through big data, as well as generating reports & visualizations. Its software became popular through spotting security threats.

More on Cisco👩‍💻 Cisco is an American conglomerate that develops & manufactures hardware & software solutions, & is best known for its computer networking products.

More Details🧐 A report by the Wall Street Journal revealed Cisco made a $20 billion offer to acquire Splunk, although the two companies aren’t in active talks.

Why is this Important🤔 If the deal goes through, it would be Cisco’s biggest acquisition ever. As for Splunk, the news has already reflected well on its stock, which went tumbling after its CEO stepped down November 2021.

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