Egypt’s Sarwa Capital plans $152mln sukuk issue this year
Friday, 17 July 2020 11:58
Egyptian firm Sarwa Capital plans to issue sukuk bonds worth EGP2.5 billion (about $152.2 million) this year. A request in that regard is pending approval by the financial market regulator, local media reported.
Sarwa Capital also engaged talks with potential arrangers and guarantors for its operation. “One of the key criteria for selecting the promoters of the IPO is their ability to market the bond to as many people as possible,” said MD Ayman el Sawy (pictured). The securities issued will have a 7-year maturity.
If approved, the operation will be the second sukuk issue on the Egyptian financial market in 2020, after the one carried out in April by Talaat Mostafa Holdings. The amount requested was EGP 2 billion.
To date, only two Egyptian financial companies are authorized to issue sukuk. These are Sarwa Capital and EFG Hermes, which is listed on the Cairo Stock Exchange
Idriss Linge
Live News
-
Ukraine Targets Ghana With Flour Production Plan Amid Demand Surge
06:06
-
Ghana’s Heath Goldfields secures $65 million to support Bogoso-Prestea gold mine ramp-up
06:05
-
Nigeria, Nestlé partner to strengthen dairy sector skills
05:35
-
Democratic Republic of Congo Raises $1.25 Billion in Debut Eurobond at Lower Cost Than More Seasoned Neighbors Issuers
04:27
-
Schalk Nolte Takes On Global Financial Fraud with Entersekt
04:15
-
Ndaedzo Madume rethinks rental market with tenant deposit financing solution
04:13
-
Cameroon Backs Palm Oil Expansion With New 25,000-Ton Plant
04:10
-
Cameroon’s Trade Gap With Gulf Narrows, but Energy Dependence Persists
21:02
-
Cameroon’s Frozen Fish Import Bill Surges as Local Supply Falls Short
20:41
-
Cameroon Steps Up Farm Mechanization With CFA400 Million Subsidy
20:30
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
MTN Ghana completes separation of mobile money into new entity Move aims to boost fintech growth ...
Ukraine explores wheat flour production project in Ghana following 2025 cooperation deal; Ghana’s wheat imports surge 56.7% to 1.09 million tonnes in...
Heath Goldfields secures $65 million financing from Trafigura Funding supports Bogoso-Prestea mine after production resumed Deal includes...
Nigeria, Nestlé sign MoU for dairy training center in Abuja Center to train farmers in breeding, milking, and farm management Initiative aims boost...
The Democratic Republic of Congo priced its first dollar bonds below Angola and Congo-Brazzaville yields, two sovereigns already known to international...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...