Pre-Trading Thoughts

EGX Head, the Financial Regulatory Authority, and central bank officials are visiting Saudi Arabia and the UAE to drum up interest as the state gears up for a number of potential IPOs this year. COMI (FV: EGP 69.00, OW) 4Q22 net profit post minority recorded a robust EGP3.95 billion (-10% q/q, +17% y/y, and perfectly in line with our estimates), bringing FY22 net profit post minority to EGP16.11 billion (+21% y/y). The stock is trading at P/E 2023 of 9.4x and P/B 2023 of 2.0x, on an attributa...