Pre-Trading Thoughts 3/10/2021

-e-finance indicative price range implies a pre-money valuation range of EGP20.0-22.4 billion-Ministry of Finance noted that around 3.03k companies have already joined the e-invoice platform; with  total of 60.5 million electronic invoices (e-finance)-The Customs Authority’s Advanced Cargo Information (ACI) platform now being implemented (e-finance)-HRHO is in talks to acquire a 45-49% stake in Ignis Energia valued at EUR1 billion, through a capital increase-Egyptian Insurance companies recorded premiums portfolio of EGP28.38 billion 7M21 (+ 29.8% YoY)-World Bank expects fertilizer prices to remain high until the end of 2021, supported by strong demand, high gas prices, some supply chain bottlenecks, the slow pace of entry of new production capacities -Minister of Finance noted that the payment of export rebate arrears has resumed, where 302 companies received EGP800 million from the Export Development Fund (ORWE and DSCW)-PORT plans to invest around EGP1.0 billion within three years, raise its delivery rate, and expand into neighboring countries, and expects to start construction in Porto Agadir next year-Qatar Airways to resume flights to Luxor and Sharm El Sheikh-Please check our “Earnings Expectations for 3Q2021” and its key messages-Please check our “Commodity and Material Prices in 3Q2021” and its key messages