Pre-Trading Thoughts

Qatari investor could announce it will buy a significant minority stake in a state-owned hotels holding company in the coming days. ORHD (FV: EGP20.38, OW) generally reacts positively to the news. A 30% stake in Egyptian Drilling Company (EDC) has been transferred to the Sovereign Fund of Egypt’s pre-IPO fund in preparation to sell the EDC stake to a strategic investor in 4Q 2023. National Bank of Egypt and Banque Misr are reportedly studying the launch of USD certificates of deposit (CDs) th...