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Local Pickup🌇

Ghazl Al Mahalla to Finalize IPO Documentation in a Week⚽

Ghazl Al Mahalla Football Club is set to IPO within the coming week, says Minister of Public Enterprise Sector Hisham Tawfik.

More Details🧐 Ghazl Al Mahalla’s total capital is EGP 200 million, of which EGP 135 million (67.5%) will be offered on the EGX. Of the EGP 135 million offering, EGP 37 million (27.4%) will be through a private offering, while EGP 98 million (72.6%) will be through a public offering. Ghazl Al Mahalla’s IPO prospectus is pending approval by the FRA.

What is a Prospectus📖 A prospectus is a legal document that the company uses to market its shares to the public. It includes all company & IPO information that an investor needs to make an investment decision.

Why is this Important🤔 Prime Holding, which is managing the offering, noted that the offering does not include a subscription commission, but rather subscription expenses of EGP 0.02/share.

Juhayna & Raya Announce Dividends💸

Juhayna (JUFO) & Raya Holding (RAYA) have announced cash dividends of EGP 0.2/share & EGP 0.06/share, respectively.

More Details🧐 The record date for JUFO, which is the last day JUFO shareholders will be eligible for dividends, is January 2nd, 2022. The payment date, the date when eligible JUFO shareholders will receive their dividends, is January 5th, 2022.

RAYA is yet to declare the record & payment dates for its dividends.

Oriental Weavers Plans Investments Worth $15 Million in 2022💉

Oriental Weavers (ORWE) is setting $15 million for investments in 2022.

More Details🧐 ORWE plans on adding & updating their factories with new machinery, as well as increasing its production capacity.

Why is this Important🤔 ORWE revealed that its 2021 investments are expected to reach $26 million.

What else is Clapping👏

  • FRA Rejects Egyptians for Urban Development’s (EIUD) Request to Increase Capital

Global Pickup🌎

McDonald’s Japan Hit With Fries Supply Shortage🍟

McDonald’s branches in Japan, or as the Japanese might call it, “Makudo”, are only selling small-sized fries due to supply chain issues. 

More Details🧐 McDonald’s potatoes, which are imported from North America, are seeing delays in shipment due to pandemic-related effects & shipping disruptions in Canada as a result of flooding at a Vancouver port.

Why is this Important🤔 Omicron is spreading rapidly worldwide, & North America is no different. While McDonald’s Japan addresses the problem, it will only offer small-size french fries starting December 24th through to December 30th, at least.

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