Ghazl El Mahalla Eyes Public Offering Next Week🥅
The private offering of Ghazl El Mahalla’s IPO has closed with participation from Misr Insurance, Ghazl El Mahalla’s parent company, Egyptian & Kuwaiti investment companies, two Saudi companies, & other high-net individuals.
More Details🧐 The private offering amounted to EGP 33 million out of the EGP 135 million capital to be listed on the EGX, leaving EGP 102 million for the public offering.
Why is this Important🤔 Ghazl El Mahalla’s general assembly is set to discuss the start of the public subscription period & approve the prospectus this Saturday, January 22nd, 2022.
GoDaddy Partners with Fawry to Facilitate Digital Transformation in Egypt🤝
Web hosting company GoDaddy has signed a memorandum of understanding with Farwy (FWRY) to facilitate digital transformation for startups & entrepreneurs in Egypt.
More Details🧐 The partnership will see GoDaddy provide tools & services that help establish an online presence for startups & entrepreneurs, whether through online stores, or websites.
Fawry’s role would be facilitating a secure & easy payment process. Users Can pay through FawryPay, including bank cards, e-wallets, & installment plans, either in cash or bank cards through various Fawry outlets (myFawry app, 250k+ points of sale,& Fawry Plus branches).
EFG Hermes Voted Best Brokerage Firm in Pakistan1️⃣
EFG Hermes (HRHO) has been voted the best brokerage firm in Pakistan in 2021 by Asiamoney publication.
More Details🧐 Some 5,734 investors across 2,876 Asian institutions in the fields of investment & wealth management, hedge & pension funds, & insurance companies voted in Aisamoney’s 32nd annual survey.
Why is this Important🤔 EFG Hermes maintained the top spot in the ranking of stock brokerage firms in Kenya, & saw its market share in Pakistan increase to 3.3% in 2021.
What else is Clapping👏
Beltone (BTFH) Consumer Finance Targets 200 New Agreements in 2022
Microsoft to Acquire Activision Blizzard for $69 Billion🎮
Microsoft (NASDAQ: MSFT) is set to acquire video game giant Activision Blizzard (NASDAQ: ATVI) for $68.7 billion in an all-cash deal.
More Details🧐 Activision Blizzard is home to some of the most popular video games ever made, with Call of Duty, World of Warcraft, & Candy Crush.
The deal would create the third-largest gaming company by revenue in the world, behind Sony (NYSE: SONY) & Tencent. Microsoft invested big in gaming twice before, when it bought Minecraft maker Mojang for $2.5 billion in 2014, & acquired game maker Bethesda for $7.5 billion last year.
Why is this Important🤔 The move comes as part of Microsoft’s long-term vision to build technologies compatible with the metaverse, according to Microsoft CEO Satya Nadella. Activision Blizzard seems to share the same vision, which prompted the company to agree to Microsoft’s offer, according to CEO Bobby Kotick.
Shopify Partners with JD.com to Help U.S. Merchants Sell their Goods in China🛒
Two of the world’s biggest e-commerce platforms, Shopify & JD.com, are joining forces to help global brands tap into China’s market, & vice-versa.
More Details🧐 The partnership will see JD.com open an “accelerated channel” for brands listed on Shopify. The channel will allow brands to start selling in 3-4 weeks, as opposed to the normal 12-month process.
Often described as the Amazon of Asia for its established logistics network, JD.com will handle the price conversion & logistics from the U.S. to China.
The partnership also aims to simplify access to Chinese merchants & brands looking to reach consumers in Western markets.
Why is this Important🤔 The move comes in line with Shopify’s expansion plan in China, as well as JD.com’s plan to enter international markets. The partnership will help JD.com differentiate from competitors like Alibaba. Shopify, however, will enter a crowded market, with Amazon still the go-to channel for exporters, thanks to its market dominance.
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