Pre-Trading Thoughts

Al Ahly Pharos

El Sisi lands in Qatar today to talk investment in his first visit since we normalized relations in early 2021.

Egypt Sovereign Fund is currently working on preparing government companies for initial public offerings, with values ranging between USD5.5-6.0 billion, with USD2.5-3.0 billion to be announced within 4 weeks.

The government has started preparations for the economic conference that El-Sisi called for.

The Prime Minister held separate meetings with Hassan Abdullah to discuss the most important indicators of monetary policy and negotiations with the IMF.

CBE is working to link Russia’s MIR payments system with Egypt’s homegrown Meeza card network.

Estimated value of the goods accumulated in Egyptian ports and awaiting the completion of customs procedures for release reached about USD2.6 billion.

QIA is waiting for NTRA’s approval to purchase a stake in Vodafone Egypt.

Mobile phone sales recorded a decline of around 30% YoY during 7M2022 to stand at 6.85 million devices.

IDHC reported 2Q22 attributable net profit at EGP126 million (-60.8% YoY, -57.7% QoQ). For 1H22, net attributable profit came in at EGP422 million (-34.7% YoY). IDHC is currently trading at 2022f P/E of 11.3x and EV/EBITDA of 6.1x.

SWDY inaugurated the second phase of its industrial complex in Tanzania that includes an oil-immersed transformers plant with an annual capacity of 2,500 unit.

CCAP's Taqa Arabia will explore ways to develop and operate gas transport services in Saudi Arabia after signing an MoU with the Saudi Natural Gas Distribution Company.

CCAP stated in a release issued yesterday that it deposited USD18.5 million, which is a value in dispute with a GCC investor in court.

EXPA’s BoD agreed to increase the issued and paid-in capital from EGP5.27 billion to EGP6.6 billion, through raising EGP1.32 billion over two phases.

TALM disclosed their enrolment numbers for the academic year 2022/2023, by recording a new intake of 1,800 student, +96.5% YoY.

DOMT’s shareholders have reportedly agreed to sell almost 53 mn shares to the Expedition investment.

Weekly Commodity Update | Last Price WoW Change, %

Brent, USD/bbl 94.7 -1.5%

Diesel-HSFO Spread, USD/ton 670.3 -2.2%

Egypt Urea, USD/ton 850.0 -5.6%

Polyethylene, USD/ton 1,100.0 0.0%

Polypropylene, USD/ton 1,000.0 0.0%

Steel/Iron Ore Spreads, USD/ton 459.2 0.0%

LME Aluminum Cash Price, USD/ton 2,274.0 -0.7%

Egyptian Retail Cement, EGP/ton 1,463.0 0.0%

Steam Coal FOB, USD/ton 436.0 -4.8%

Crude Palm Oil, USD/MT 803.1 -6.5%

SMP, USD/MT 3,575.0 1.4%

WMP, USD/MT 3,610.0 5.6%