Pre-Trading Thoughts

Government raised gas cost for the industrial sector to USD5.75/MMBtuFertilizer companies have demanded an increase in the prices of supplying subsidized fertilizers from EGP2,900/ton to EGP3,480ABUK’s CEO: Company’s financial advisors are to re-study the feasibility of its projects after the hike in natural gas pricesSKPC 3Q21 net profit hit EGP75 million (+13%YoY, -3%QoQ); SKPC had undergone planned maintenance shutdown; SKPC is trading at 2021e P/E of 9.8x and 2022e P/E of 6.7xForeign and local institutions are looking to acquire a stake in Aman for Financial Services, a subsidiary of RAYA, through acquiring a direct stake or through an EGX listingAUTO to deliver 300 Tiggo-III cars per month for the car replacement program, in addition to 500 Hyundai-branded and 300 Chery-branded carsAround 6k hotel rooms are under construction at an investment cost of EGP1.8-2.0 billion in Marsa AlamGCSS initiated the construction of the grain silo with a storage capacity of 100,000 tons at EGP520 millionThe CBE decided to keep the key policy rates unchangedMinistry of Supply decided to raise the price of vegetable oil to EGP25 per litre The government IPO program will resume, actively, over the next few monthsWorld Bank has approved a USD360 million facility to support the Egyptian economy Exports to the G20 grew by 39% YoY during 1H2021 to record USD9 billion up from USD6.5 billion Egypt aims to raise the private sector’s contribution to economic activity to 50% during the next three yearsMinistry of Finance will present to the Senate its responses to brokerage companies' concerns about the repercussions of implementing the capital gains tax law on stock exchange transactions