Taaleem Sets the Final Price

March 29, 2021

EGX 30: 10,870 (-0.4%) weekly change, (+0.23%) YTD
Traded Value 1W Avg: EGP 378M , (-30.2%) below 90D Avg.  
EGP:USD: 15.72 (+0.1%) weekly change

Local Pick-ups

Taaleem IPO is priced at EGP 5.75

The company that owns and operates the first and largest private university in Upper Egypt is going public this week (check what IPO means here). The institutional offer has been oversubscribed (check work of the week) 2.34x and the final price is set at EGP 5.75 per share. Visit our blog to see how your investment will be protected and everything else that you need to know. We will also be hosting a zoom session today at 8pm to answer all your questions, here is the webinar link.

“Ever Given” container ship partially re-floated

The stranded container ship blocking the Suez Canal for almost a week was partially re-floated this morning and is currently being secured. Last week one of the world’s largest container ships in the world got stuck in the Suez canal sideways, causing a huge jam of vessels and holding up a USD 9.6B worth of goods every day. (Reuters)

Macro Group Pharmaceuticals announces IPO price range

Macro Pharmaceuticals, one of the largest and fastest-growing cosmeceutical companies in Egypt, has announced the price range of the IPO at EGP 5.40 to EGP 6.15 per share. Retail (non-institutional) investors can subscribe to the IPO between April 08, 2021 and April 14, 2021. (Press Release)

Other Local Headlines

  • FRA & Central Bank of Egypt to launch a liquidity fund to support the stock exchange.
  • Egypt Kuwait holding plans to invest USD 300M in 2021 and 2022.
  • Integrated Diagnostics Holding (IDH) gets FRA approval for listing on EGX.

Global Pick-up

Robinhood Files for IPO

Robinhood, the leading US commission-free trading app, has filed confidential paperwork for their initial public offering. The company has experienced a whirlwind start to the year as the pandemic helped draw new retail investors to its stock trading app. The company plans to be listed on Nasdaq. (CNBC)

Featured Opportunity

Taaleem Management Services – Taaleem, the company that manages and operates the first and largest private university in Upper Egypt, is going public. Here is how you can be a part of it.

Word of the week – Oversubscription

Oversubscription occurs when the demand for a new issue of securities exceeds the available supply. It is a situation in which buyers show so much interest in a new stock.

Book of the week – The little book that beats the market

Written by Joel Greenblatt, an academic, value investor & hedge fund manager. The book tells you how the small investor can beat the market following a simple formula for investing that has been tested and proved right. (Good reads)

Earnings Call:

  • Orascom Construction reports EGP 1.43B profits, 25.1% YoY decrease.
  • Memphis Pharmaceuticals reports EGP 27.73M profits, 480% YoY increase.
  • Sabaa Pharmaceutical reports EGP 15.14M profits, 67% YoY increase.