Pre-Trading Thoughts

FRA has approved the MTO by Aldar to acquire up to 90.0% of OCDI at a price of EGP20.00/share. We calculate the values of other real estate stocks implied by this EGP20.00/share MTO price (land value of EGP627/sqm): EGP17.68/share for TMGH, EGP18.71/share for ORHD, EGP5.07/share for PHDC, EGP4.31/share for EMFD, EGP2.44/share for MNHD, EGP9.49/share for HELI, and EGP2.79/share for EGTS ZMID signed its co-development agreement for 34 feddan New Heliopolis land plot, with 50.0% revenue share; E...