The director of research at Al-Marwa Securities Brokerage Company, Mina Rafeeq, said in an interview with “Al Arabiya” that the real estate sector companies listed on the Egyptian Stock Exchange are trading at less than their nominal value, such as Talaat Moustafa share, which has a face value of 10 pounds, as well as the Palm Hills share of 2 pounds. Both are trading at less than face value.
Rafeeq indicated that Heliopolis Housing stock is trading at less than its nominal value, which does not reflect the size of the land portfolio owned by the company.
And forSODIC DEALRafeeq said that the deal was executed based on the fair value set by the company’s financial advisor at 23.5 pounds per share, and it was offered at 20 pounds, and this helped Aldar Properties acquire 85%, at an attractive price.
He pointed out that there was another deal executed today in the Egyptian market to sell 10% of Abu Qir’s shares, explaining that there is a big price difference between the fair value and the prices at which it was made.
He indicated that foreign investors prefer investing in Egypt because the stock prices are attractive and the offerings are also very attractive.
In another context, Rafiq said, Inflation rate In Egypt, it comes within the target of the Central Bank of Egypt, explaining that the inflationary wave that the world is witnessing has been controlled by the Central Bank of Egypt so far, and this is a positive thing.
He explained that the central bank will not take a proactive step, expecting that these steps come after the US Federal Reserve raised interest rates, which is estimated for next year.
He expected the Central Bank of Egypt not to change the interest rate at its next meeting.
These were the details of the news For these reasons, foreigners prefer investing in Egyptian stocks and offerings for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
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