Azimut launches its equity mutual fund, IDH shares began trading on EGX

May 24, 2021

EGX 30: (10,731), weekly change ( -0.3% ), YTD (-1.0%)
Traded Value 1W Avg: EGP 586M , (+17.4%) above 90D Avg.  
EGP:USD: 15.66 (-0.3%) weekly change 

Local Pick-ups

Azimut launches AZ Opportunities (AZO)

We’re thrilled to launch the second mutual fund on Thndr—AZ Opportunities (AZO). The fund is considered to be the first equity fund to be established in the Egyptian market in 8 years. AZO aims to take advantage of investment opportunities in equities listed on the EGX and Egyptian companies listed in foreign exchanges. Catch the funds subscription period (27 May 2021 – 22 July 2021) and buy certificates at EGP 10 before the fund starts trading and its price fluctuates.

Integrated Diagnostics Holding began trading on EGX

Integrated Diagnostics Holding (IDH), a leading consumer healthcare company in the Middle East and Africa with operations in Egypt, Jordan, Sudan and Nigeria has began trading on the EGX on May 20, 2021. The company was listed via a technical direct listing, the first of its kind in the Egyptian market. IDH is a consumer healthcare company with operations in Egypt, Jordan, Sudan & Nigeria. If you’re interested to learn more about the company you can check the latest Annual Report or 2020 Investor Presentation.

EFG Hermes & SFE to acquire Arab Investment Bank

EFG Hermes and sovereign fund of Egypt agreed to acquire 76% of Araba investment Bank (AIB). EFG Hermes will subscribe to 423M new shares with total value of EGP 2.55B and SFE will subscribe to new 207M shares with total value of EGP 1.25B. EFG Hermes will be the largest shareholder of AIB with a 51% stake. (Arab Finance)

Other Local Headlines

  • Fawry capital increase was covered 99.9%. The subscription will open again for 48 hours starting Tuesday. Click here to learn more.
  • Melinda Gates acquired 5.6% of Orascom Construction PLC.
  • Speed Medical board directors approve the company’ shares listing on Dubai Financial Markets.
  • CIRA acquires land to build new school in New Qena.

Global Pick-up

Oatly goes public, raising USD 1.4B

Oatly, a Swedish food production company specialized in healthy food, has managed to raise USD 1.4B in its IPO at USD 10B valuation. The company shares has soared 19% during its first day of trading. (Robinhood snacks)

Featured Opportunity

Azimut Opportunities Fund – AZ opportunities is the first equity fund to be established in the Egyptian Markets in 8 years. AZO is an open-ended private placement fund that is open for daily subscription and redemption.

Word of the week – Dividend yield

The dividend yield is a financial ratio calculated by dividing the distributed dividend per share over the share price. It shows how much the company pays out in dividends relative to its stock price.

Book of the week – How to read a book

Our recommendation for the week is not related to investing, but to reading itself. The book is written by the philosopher Mortimer Adler and It follows a philosophical theme. It’s a quite heavy read but very interesting and will help you take your reading and comprehension abilities to the next level.

Earnings Call:

  • Ghabbour Auto reports EGP 299M net profits in Q1 2021, a 117% YoY increase.
  • Fawry reports EGP 76.145M net profits in Q1 2021, a 146% YoY increase.
  • Egypt Kuwait Holding reported EGP 669.8M net profits in Q1 2021, a 41% YoY increase.
  • Contact Financial Holding reported EGP 109.3M in Q1 2021, a 20% YoY increase.