Pre-Trading Thoughts

Qatar Investment Authority is negotiating purchasing up to a 25% stake in Vodafone Egypt, out of ETEL’s c.45% stake in Vodafone Egypt. Potential transaction valuation post capital gains tax is EGP5.50-10.30/ETEL share. COMI will raise its capital to EGP 29.82 bn from EGP 19.85 bn, through a rights issue. The bank would issue 1 bn shares at EGP 10 to be financed from general reserves for the period ended 31 December 2021. ADIB will move forward with an EGP 1 bn capital increase to ...