Thndr shortlisted for Egypt’s Best Fintech Award


May 10, 2021

EGX 30: (10,588), weekly change (+1.1%), YTD (-2.4%)
Traded Value 1W Avg: EGP 257M , (-48.5%) below 90D Avg.  
EGP:USD: 15.67(+0.1%) weekly change 

Local Pick-ups

Thndr shortlisted for Egypt’s best Fintech Award

Thndr has been shortlisted for Egypt’s Fintech award of the year and our CEO, Ahmad Hammouda, has been shortlisted for the entrepreneur of the year award. (eeawards)

Elsewedy enters the Asian markets with USD 60M acquisitions

Elsewedy Electric enters the Asian markets through its acquisition of a 95% stake in an electric transformer manufacturer in Indonesia and a 100% stake in a manufacturer of power transformers in Pakistan. The acquisitions are worth USD 60M. (Reuters)

IDH shares to be listed on EGX this month

Integrated Diagnostic Holding got the EGX & FRA approval to list 5% of its shares on the EGX through a technical listing. The technical listing is without any concurrent offering of new shares by the Company, the first of its kind on the EGX. (Reuters)

Other Local Headlines

  • EGX finished developing a new platform for bonds trading
  • Standard & Poor’s credit rating for Egypt stands at B with stable outlook
  • Taaleem buys back 8M shares which was offered for sale through the stabilization fund
  • Amer Group appoints Riad Refaat as the group CEO

Global Pick-up

US backs waiver on Covid-19 vaccine patents

The Biden administration proposed to waive Covid-19 vaccines patents to boost supply. Such a waiver could remove obstacles to ramping up the production of vaccines in developing countries. The move comes as coronavirus infections surge to their highest levels in countries that have struggled to procure or distribute vaccines. Pfizer CEO Albert Bourla warned Friday that waiving patent protections for Covid vaccines would set off a worldwide race for raw materials that threatens the safe and efficient manufacturing of Covid shots. (CNBC)

Featured Opportunity

Oriental Weavers Carpet – Oriental Weavers manufactures and sells carpets, rugs, and related raw materials worldwide. The company has a 3 year Net Income CAGR of 36% and a PEG ratio of 0.12

Word of the week – Credit rating

Credit rating is an assessment of the creditworthiness of a country or a company. It measures the level of risk associated with investing in the debt instruments of this particular company or country(including political risk).

Podcast of the week – Fawry’s journey in 12 years 💸

In a dialogue with Ashraf Sabry, the Founder and CEO of Fawry, we learned about Fawry’s journey in 12 years from its launch until its public offering on the Egyptian Stock Exchange. Click here to listen to the podcast on Thndr Calps with Waya.

Earnings Call:

  • National Bank of Kuwait reported net profits of EGP 404M in Q1 2021, a 0.33% increase.
  • Tenth of Ramadan Pharmaceuticals (Rameda) reported net profits of EGP 30M in Q1 2021, a 26% increase.
  • Osool Securities Brokerage reported net profits of EGP 1.3M in Q1 2021, a 33% increase.
  • Egyptian Media Production city reported net profits of EGP 25.5M in Q1 2021.