Al Ahly Football Company Could IPO⚽

Local Pickup🌇

Al Ahly Football Company Could IPO⚽

Chairman of Al Ahly Football Company Yassin Mansour said that the club is considering offering a 49% stake on the EGX, according to Al Arabiya.

More details🧐 Al Ahly Football Company handles all football matters after its official formation by the Board of Directors headed by Mahmoud Al Khatib.
Its responsibilities include organizing the season’s schedule, handling players’ transfers, loans, & contracts, sponsorship rights, broadcasting rights, all academies’ work, & more. 

Why is this important🤔 Mansour, recently appointed as the company’s Chairman,  said the company is currently working on increasing its revenues in order to be attractive to investors when it offers a stake on the EGX.

ODIN Investments to Split Into Two Companies🪓

ODIN for Financial Investments (ODIN) CEO Hashem El Sayed revealed that the company will be divided into two entities, according to Al Mal.

More details🧐 The first company, ODIN for Financial Investments, will specialize in financial services, & the second company, ODIN for Investment & Development, will manage the group’s real estate assets.

Why is this important🤔 El Sayed explained that ODIN for Financial Investments owns the group’s investment funds. While ODIN for Investment & Development will own Egyptians Housing (EHDR), Emerald Real Estate Investment (EMRI), Emerald Development & Project Management (EMDE), & Edge Development & Real Estate Management.

Abu Qir to Offer Additional Stake Before End of Year🎫

Minister of Public Business Sector Hisham Tawfik revealed that the government’s IPO state-privatization program is set to resume next month, starting with the offering of an additional stake of Abu Qir Fertilizers (ABUK).

More details🧐 He added that other companies set to offer additional shares on the EGX include Heliopolis Housing (HELI), & Misr for Fertilizer Production “MOPCO” (MFPC), in addition to the initial public offering of Banque du Caire, all before H2-2022.

Global Pickup🌎

Apple Shares Close at Record High Following News of Accelerated Efforts to Launch Self-Driving Vehicle🍎

Apple is accelerating its efforts in the development of its electric car &  is refocusing the project around full self-driving capabilities. Apple’s stock closed up 1.7% & traded at $160.55 a share last Friday.

More details🧐 In recent years, Apple’s been choosing between a car with limited self-driving capabilities focused on steering & acceleration, or a car with full self-driving ability that doesn’t require human intervention. They went with the second option.

Why is this important🤔 This push could see Apple enter the highly exciting EV market soon, & compete with Tesla, newly-public Rivian, & other automakers moving away from fossil fuels.

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