Pre-Trading Thoughts

-CLHO signed an agreement to transform a brownfield project located in East Cairo into a 400-bed medical facility; Estimated value of the (400-bed) transaction is around EGP3.7 billion (EGP2.32/CLHO share); CLHO is currently trading at 2022f P/E of 15.5x and 2022f EV/EBITDA of 9.2x-MNHD acquiring MINKA given that MINKA’s two projects are on the Taj City land plot and that MINKA sells fully-finished units -TMGH is planning a EGP700.0 million securitization before the end of 2021-RAYA has executed the EGP571 mn sale of 100% of its recycling subsidiary BariQ (EGP___/RAYA share)-Some dual-fuel vehicles delivered through the government’s Nagas transition scheme will be EGP 3-5k more expensive-MICH released positive 1Q21/22; Bottom line came in at EGP50 million (+19.7% YoY, +100.7% QoQ); MICH is currently trading at an annualized FY21/22 P/E of 4.2x-MILS released 1Q21/22 net loss of  EGP2.6 million, due to mounting costs and lower revenues -Standard & Poor’s affirmed Egypt’s credit rating at ‘B’ with a stable look-Suez Canal will reduce the fixed rebate on canal tolls for LNG carriers to 15% from 25%-Government targets an economic growth rate of 7% in FY2023/24-The parliament’s economy and finance committee will hold a meeting with the Minister of Finance next week to discuss the implications of a capital gains tax on EGX transactions-Italian energy group Eni made three oil and gas discoveries in Egypt's western desert with reserves at about 50 million barrels of oil equivalent