Pre-Trading Thoughts

Egypt's sovereign sukuk of USD 1.5 bn was about 3.5x oversubscribed. The final guidance price is 11.125% (± 1/8th). The government is planning to list Misr Life Insurance by the end of 1H2023. EGCH (Kima) is targeting to secure USD300 million to finance new production lines; 600 million tons for nitric acid and 800 million tons of ammonium nitrates. Kima may cooperate in this project with ABUK and MFPC. Helwan Fertilizers plans to establish a new melamine production line with inve...