Pre-Trading Thoughts

The government has signed agreements worth USD 1.9 bn to sell state-owned assets under its privatization program. The state has raised USD 1.65 bn through the stake sales and received the remainder in EGP. ADQ acquired 25-30% stakes in Egyptian Ethylene and Derivatives Company (Ethydco), Egyptian Linear Alkyl Benzene (Elab), and Egyptian Drilling Company (EDC) for USD 800 mn. TMGH’s subsidiary Icon Investments together with Emirati investors invested USD 700 mn in a government h...