Pre-Trading Thoughts

Al Ahly Pharos

Imported mobile phones could be subject to customs and tax fees totaling 37.5%, as part of incoming government regulations to support the country’s mobile phone manufacturing localization efforts.

Prime Minister is gearing up to announce “positive news” regarding the airport privatization plan developed with the International Finance Corporation (IFC).

Infinity Power, UAE’s Masdar, and Hassan Allam Utilities will soon launch a tender for a contractor to carry out their combined 1.2 GW solar projects planned for the Dahkla Oasis and Benban plant in Upper Egypt.

The Ministry of Petroleum intends to launch an international bid for gold exploration in areas in the Eastern Desert.

The CBE balances at the International Monetary Fund rose to EGP31.172 billion at the end of October, compared to EGP18.243 billion at the end of September 2024.

The Egyptian government expects the World Bank to respond in 1Q25 to its request for new financing worth USD250 million in order to implement the state ownership policy.

Jade Textile Company, a subsidiary of the Turkish Yeshim Group in Egypt, is implementing investment expansions in its factories in Cairo, Ismailia, and Alexandria, with a total investment of USD180 million.

ORAS reported a steady set of results for 3Q24. Net income attributable to shareholders came in at USD21.6 million (+34% YoY, +12% QoQ) in 3Q24. This brought 9M24 bottom line to USD87.0 million, down 24% YoY. ORAS is currently trading at FY25e PE of 5.3x and EV/EBITDA of 1.2x.

United Bank private placement on the EGX will wrap up later today. The offering is reportedly already 3x oversubscribed with still one day left of the placement to go. Retail subscription is starting on Wednesday until 3 December.

The IFC inked an agreement with COMI that will see it grant the bank some USD150 million in soft financing aimed at supporting COMI’s efforts to promote micro and small and medium-sized enterprises.

BTFH's platform NEBIT aims to penetrate non-traditional fertilizer activities and agricultural supplements.

Catalyst Partners Middle East (CPME) made its EGX debut yesterday. The SPAC listed 1 million shares with a nominal value of EGP10/share.

JUFO BoD has initially approved the merge of Elmasreya for Dairy Products Company, Eldawleya Modern Food Industries Company, Egyptian Food Industries Company - EGYFOOD, and Al Marwa Food Industries Company into JUFO based on the book value of these companies according to FY23 financials.

Egypt's chemicals and fertilizers exports increased by 5% YoY to USD6.5 billion in 9M24.
Weekly Commodities Update

| | Last Price | WoW Change, %
| Brent, USD/bbl | 75.2 | 5.80%
| Diesel-HSFO Spread, USD/ton | 260 | 9.20%
| Egypt Urea, USD/ton | 354 | 0.00%
| Polyethylene, USD/ton | 975 | -0.50%
| Polypropylene, USD/ton | 960 | -0.50%
| Iron Ore 65%, USD/ton | 121 | 2.70%
| Steel/Iron Ore Spreads, USD/ton | 389 | -4.00%
| LME Copper Cash Price, USD/ton | 8,848 | -0.40%
| LME Aluminum Cash Price, USD/ton | 2,597 | -1.20%
| Egyptia Retail Cement, EGP/ton | 2,849 | 0.00%
| Steam Coal FOB Newcastle Australia, USD/ton | 141 | -0.40%
| SMP, USD/MT | 2,882 | 1.10%
| Last price may vary week over week in some indices due to time difference