Taaleem IPO oversubscribed 29.4x, Macro IPO this week

April 05, 2021

EGX 30: 10,564 (-2.8%) weekly change, (-3%) YTD
Traded Value 1W Avg: EGP 399M , (-27.8%) below 90D Avg.  
EGP:USD: 15.69 (-0.2%) weekly change

Local Pick-ups

Taaleem IPO was 29.4x oversubscribed from retail

The Egyptian Exchange (EGX) announced that the initial public offering of (IPO) of Taaleem has been oversubscribed by 29.38 times. Investors have submitted orders worth EGP 3.02B during a 5 days subscription period. The first day of trading is expected on Wednesday, 7th of April.

How will my order be affected by the oversubscription? Each investor will be allocated 3.4% of his order value.

Below is an example:

Number of requested shares: 17,391
Order value: EGP 99,998.25
Allocation: 3.4%
Allocated shares = 591 shares for a EGP 3,398.25

EGX approves Macro IPO

The EGX committee has approved the listing of Macro Pharmaceuticals, the largest and one of the fastest-growing cosmeceutical companies in Egypt. We will host a webinar (Link here) on Tuesday at 8:00 PM (CLT) to tell you more about the company and answer all your questions. The Retail Offering subscription period is expected to run from Thursday April 08 to Wednesday April 14, 2021. (Macro)

OFH launches a new fintech company

Orascom Financial Holding launches a new fintech company in the digital payments arena in partnership with Excel Systems, a homegrown company offering software development and integrated solutions. OFH will own a 79.9% stake in the new company. (Waya)

Other Local Headlines

  • Fawry gets FRA approval for EGP 400M capital increase
  • Minapharm Pharmaceuticals board approves to establish a new company based in Germany
  • The Sovereign Fund of Egypt invests EGP 250M in EFG Hermes Education fund
  • International Diagnostic Holding aims to execute its technical listing on EGX next month.

Global Pick-up

Facebook data on more than 500 million accounts found online

Personal Data of more than 500 million Facebook users were found available on a website for hackers. The data includes phone numbers, Facebook IDs, locations, birthdates & emails. The data comes from 106 countries. (CNBC)

Featured Opportunity

Taaleem Management Services – Taaleem, the company that manages and operates the first and largest private university in Upper Egypt, is going to start trading on Wednesday. The company also has a joint-venture with Palm Hills to establish Badya University on the west side of Cairo.

Word of the week – Technical Listing

Technical listing is the process of listing a company shares on a stock exchange without the need of prior public offering like in IPOs as it involves listing shares but not offering new equities for sale. This means the company will benefit from being a public company without changing its shareholding structure.

Book of the week – Thinking Fast & Slow

Written by Nobel laureate and father of behavioral economics Daniel Kahneman. The book discusses how our minds lead us toward making irrational decisions without noticing it. The book can help you as an investor to think better and make smarter investment decisions. (goodreads)

Earnings Call:

  • Fawry Reports EGP 186.2 profits, a 81%YoY increase 
  • Shrouk for modern printing reports EGP 162.7 profits, a 170% YoY increase 
  • SODIC reports EGP 819.65 profits, a 14% YoY increase
  • B Investments Holding reported EGP 287.9M profits, a 66.2% YoY increase