Pre-Trading Thoughts

Pitch: HELI (FV: EGP12.44, OW) Board approved setting up a general assembly to look into the offer submitted by the National Organization for Social Insurance to buy HELI's 7.1 million sqm Heliopark land plot for EGP15.0 billion (implying EGP2,107/sqm) to be paid as a lump sum at contract signing, out of which costs will be deducted. The market is almost fully overlooking the value of HELI's residual land area in New Heliopolis. Valuing the 13.9 million sqm residual land area in New Heliopoli...