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Recovery from coronavirus crisis could take up to 18 months: Head of Research at EFG
Market capitalisation up by EGP 10.6bn, EGX30 up by 2.55%
Parties will subscribe to capital increase aimed at bank ownership of at least 76%
Executives from 72 companies representing 14 countries will connect with over 480 investors managing an aggregate $15trn in assets. Participants will access conference events through a digital platform moderated by EFG Hermes.
EFG Hermes has also been an early adopter of the International Financial Reporting Standard 16 (IFRS 16), in the first quarter (1Q) of 2020, and which hit that quarter’s income statement due to declining markets. No further significant one-off impacts from IFRS 16 is expected.
The Commercial International Brokerage Company (CIBC) came second with a EGP 17.7bn trading, representing a 9.7% market share. Hermes Securities Brokerage came third with a EGP 15.9bn trading value, and an 8.7% market share.
Paytabs Egypt will enable consumers and merchants to make one step purchases and, says Hassouna
FRA earlier approves first Sukuk offering worth EGP 2bn
First day of Dr Sulaiman Al Habib Group trading, confirm the solid fundamentals of the stock, says Ebied
Revenue growth of 20% y-o-y was supported by strong results at both the Group’s Investment Bank and NBFI platforms
Under agreement, which is subject to regulatory approval, EFG Hermes Finance and GB Capital will each own 37.5% of the company.
Interest rates to witness 150-200 bps cut in 2020, with inflation stabilisation at 6-7%
Strong growth for the third quarter driven by solid performance of Investment Bank, NBFIs platform
Helios Towers is EFG Hermes’s fifth IPO on the London Stock
EFG Hermes’s Abu Basha foresees 0.5% cut, Pharos’ El-Swaify and Sigma expect 1.5%
Despite continued volatility of global conditions, positive stories coming out of MENA, frontier economies, with encouraging economic data from Saudi Arabia, Egypt, says Group CEO
EFG-Hermes Leasing considers new securitisation worth EGP 300-400m in Q4 of 2019
Hermes Securities Brokerage second with EGP 4.6bn, CIBC in third with EGP 4bn
Large private company to be offered on EGX by November
The company achieved revenues of EGP 1.1bn, reflecting a 13% y-o-y increase during the same period.
EFG Hermes conducted EGP 8.2bn of transactions thanks to institutions deals
Institutional offering of Egyptian e-payment network Fawry was 15.9x oversubscribed at EGP 6.46 per share (offer price), having generated about EGP 7.1bn ($431.0m), the offering manager EFG Hermes announced in a press statement on Thursday
Bidding firms are Hermes, CI Capital, Beltone Financial, HC, and Pharos
Gad: 4 private companies preparing for EGX float, 2 will be offered before year-end
Company focuses on enhancing its market share in Africa
Hermes’ expected share in education fund investments in 2019 amounts to $40m: Moussa
Promotions operations to offer 20% of company will include 13 countries, launch in preparation: Ebeid
Furthermore, GOSI, one of the largest pension funds in the world by assets under management, will own (through a wholly-owned subsidiary) a 47% stake in the JV through its contribution of its 38.88% stake in the Tadawul-listed NMC Company at SAR 54.00 ($14) per share.
Partnership provides clients access to Hanoi Stock Exchange, Ho Chi Minh City Exchange, UPCOM, says Khalpey
Finablr is a global platform for payments and foreign exchange solutions, with holdings including the UAE Exchange, Travelex Holdings, Xpress Money, Unimoni, Ditto, and Remit2India, among others.