Pre-Trading Thoughts

EGAL's capital increase and revamp project trigger potential FV upgrade to EGP96.00/share Initial agreement on Emirates Global Aluminum (EGA) subscription to EGAL’s capital increaseScenario: Upside potential triggered by the transaction. There are many missing inputs and details to quantify the costs and benefits of the revamp project into our model. We are currently valuing EGAL at a FV of EGP77.75/share with an Overweight recommendation. However, we ran several assumptions to reach an estim...