Pre-Trading Thoughts

Organi Group is going to increasingly focus on expanding its presence in the automotive and tourism sectors over the next five years and invest USD1 bn in the two sectors by 2030.

The Egyptian National Railways (ENR) has partnered with Italian rail construction and maintenance firm Salcef Group to form a new joint venture, Salcef Track, that will oversee the development, renewal, and maintenance of Egypt's railway infrastructure over the next 25 years.

ExxonMobil Corporation announced a new discovery of natural gas off the coast of Egypt in the Mediterranean Sea.

Katia & Bony, a Turkish textile firms whose parent company Bonysocks exports to global brands like H&M and Carrefour, will be launching sock manufacturing operations in Egypt with investments of USD50 mn.

 
Ahmed Ezz, the main shareholder in ESRS, submitted a request to appeal against the exclusion of his shares and the shares of related parties from voting on the general assembly’s decisions related to the delisting of the stock from EGX. The result of the complaint will be announced on 22 January 2025. ESRS decided to self-finance the markup in the delisting price from the previously offered price of EGP120.00/share and the IFA fair value of EGP138.15/share. 


FRA is currently studying a new regulatory framework that would govern fractional investments in the real estate sector, with the authority currently in talks with real estate developers interested in adopting the approach.

MASR signed a partnership with GTCI to construct energy and infrastructure projects worth more than EGP263 million in Taj City.

Hazem Helal has been appointed CEO of O West, Makadi Heights, and Byoum by ORHD.