Ghazl El-Mahalla IPO is on the Horizon👀

Local Pickup🌇

Ghazl El-Mahalla IPO is on the Horizon👀

Prime Holding (PRMH) is close to releasing the prospectus for the IPO of Ghazl Al-Mahalla Football Company.

More Details🧐 The subscription is expected to take place from the end of February until mid-March 2022, to start trading in April, according to Asharq Business.

Why is this Important🤔 The IPO would mark the third listing of 2022, after Nahr El Khair (KRDI) & Macro Group (MCRO).

Minister of Planning Sees Nominal GDP Increasing📈

Minister of Planning and Economic Development Hala El-Said expects an increase of EGP 819 billion in the nominal gross domestic product (GDP) up 11.5%, bringing the GDP to EGP 7.9 trillion by the end of the year.

What is the Nominal GDP?🤔 Nominal GDP is the total value of all goods & services that a country produces within its borders during a set period of time, without adjusting for inflation or deflation.

More Details🧐 El Said also mentioned that the tourism & information technology sectors contributed heavily to the country’s economic growth of 9% during H1-FY 2021/2022.

The agricultural sector growth rate exceeded 5% for the first time in H1-FY 2021/2022.

El-Said also ruled out the possibility that the inflation rate would exceed the CBE’s 5-9% target, indicating that the current global inflation wave is a result of supply chain disruptions.

Gulf Banks Consortium Leads Arrangement for Banque Misr Loan💰

Colliers International – a Canada-based investment management company – maintained its optimistic forecast for Egypt’s hotel occupancy.

More Details🧐 The loan has a three-year duration, & will be used for the general financing purposes of the bank. This loan comes right after Banque Misr obtained a $1 billion loan a few months ago.

Why is this Important🤔 Banque Misr’s return to the global debt markets coincides with the Egyptian net foreign assets recording about negative $7 billion in November 2021.

Net Foreign Assets🗺 Net foreign assets (NFA) determine whether a country is a creditor or debtor by measuring the difference in its external assets and liabilities.

What else is Clapping👏

  • Abu Dhabi Islamic Bank (ADIB) Recorded Net Profits of EGP 1.45 billion, Up 21% YoY

  • GlaxoSmithKline (BIOC) Agreed to Sell its Healthcare Assets for EGP 1.179 Billion

  • Suez Canal Bank (CANA) Recorded Net Profits of EGP 604.7 Million in 2021, Up 0.4% YoY

  • EFG Hermes (HRHO) Picks Goldman Sachs to Advise on FAB Acquisition Offer

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