Pre-Trading Thoughts

Ezz Steel: Our strategy is still focused on growth, either through adding new production capacity or through investing in existing companies; Is looking into an investment that is about to be completed, which aims at increasing its production capacityEgyptian cement companies could get some respite from sky-high coal prices ISPH established a pure logistics service provider at an investment of EGP440 million; Revenues transferred next year is around EGP100 million and is expected to increase by around 50% in 2023; ISPH is currently trading at 2022f P/E of 7.3x and EV/EBITDA of 4.5xPHAR 3Q21 net profit at EGP88 million in 3Q21, rising by 14.8% YoY but dropping by 5.2% QoQ; Weak bottom-line is mainly stemming from a rise in financing expenses and R&D expenses; PHAR is trading at 2022e P/E of 6.6x and EV/EBITDA of 4.8x The CBE has released the regulations for its instant payment network (IPN), which include new transfer limits Education Ministry launched an e-payment service for public school fees payment using debit and credit cards, in collaboration with e-finance and Klickit; Khales provides e-payment services for fees collection in schoolsMTIE disclosed that splitting the company’s business lines is a considerable investment alternative over the next five yearsRACC plans to acquire a US company in the near future as part of the company's expansion strategy Consumer Protection Authority has issued a decision requiring car dealers to be more transparent in how they price their vehicles in an effort to stop consumers from being overchargedReal estate developers could increase selling prices by 10-15% due to the rise in cost of raw materialsELKA Board approved a 1:10 stock splitParliament’s Plan and Budget Committee has not received any suggested amendments to the application of the capital gains tax law on stock exchange transactionsPrime Minister issued a decree to rationalize investment spending in the economic development plan for the budget sector entities and the economic authorities during the current fiscal year