Pre-Trading Thoughts

Fitch expects Egypt to receive USD6.5 bn of IMF funding within 3 months or less. Aldar Properties is considering acquiring MNHD (FV: EGP3.26, OW). Positive for land owners, OCDI (FV: EGP20.02, OW), and BINV (FV: EGP17.67, OW) which holds a 7.50% stake in MNHD. The Prime Minister launched the localization of vehicles production strategy yesterday. Egyptian International Motors (Renault), the Suez Canal Economic Zone (SC Zone), and Sovereign Fund of Egypt (SFE) signed an MoU to explore building...