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Dubai’s Emirates REIT expands IPO due to strong demand

Reuters – Dubai-based real estate investment trust Emirates REIT said it had expanded the size of its initial public offer of shares on NASDAQ Dubai, the emirate’s first IPO since its financial crisis erupted in 2009, because of strong demand. Emirates REIT will raise $175m in the IPO, which was 3.5 times oversubscribed, by selling …

Daily News Egypt

Egypt stocks continues to drop

Reuters – The Cairo bourse, which dropped 2.7% last Thursday after Sisi said he would run for president, fell a further 1.9% on Sunday to trim 2014 gains to 19%. But there were signs the correction was slowing and the market closed above the intraday low. “Towards the end of today we saw a bit …

Daily News Egypt

EFG Hermes launches programme to acquire treasury shares

Analysts expect EFG Hermes shares to maintain their upward trend in the three upcoming sessions, to reach nearly EGP 12. This comes after the board’s approval of the plan to acquire treasury shares for EGP 1bn at a minimum price of EGP 11.5 per share. The share featured a 10% upward movement during last Thursday’s …

Daily News Egypt