Closing Bell Report - 27 December

Transcription

1. THE CLOSING BELL BULLETIN JAZIRA SECURITIES BROKERAGE Tuesday , December 27, 2016 Indices EGX30 Close 12,182 EGX70 466 ▲1.4% ▲23.0% EGX100 1099 ▲0.8% ▲38.9% EGP mn % of Market Trading Activity Total Market 1 Day Change YTD Change ▲73.9% 2,181 Top Gainers Closing Price % Change Atlas For Land Reclamation 9.72 ▲17.1 El Ezz Porcelain (Gemma) 6.41 ▲8.8 Abu Dhabi Islamic Bank- Egypt 6.65 ▲8.0 Delta Construction & Rebuilding 5.71 ▲6.7 Citadel Capital - Common Shares 0.94 ▲5.6 GDRs (as of 15:00 CLT) US$ % Change COMIq.L 3.83 ▲0.1 ETELq.L 2.50 - HRHOq.L 2.29 - OTMTq.L 0.10 - Exchange Rates Bid Ask EGX30 788 36 EGX70 150 7 Top Losers OTC 0 0 Suez Bags 21.78 ▼9.0 EGP/ 1S$ 18.8026 19.1434 Bonds 8 0 Samad Misr -EGYFERT 7.45 ▼3.4 EGP/ 1€ 19.6524 20.0145 # of Stocks EGP mn % of Market Reacap Financial Investments 2.91 ▼3.0 EGP/ 1£ 23.0914 23.5120 Advancers ▲179 1,270 53 Decliners ▼90 681 28 Tourism Urbanization 6.4 ▼2.7 EGP/ 1SAR 5.0124 5.1036 52 459 19 El Nasr Clothes & Textiles 1.07 ▼2.7 EGP/ 1AED 5.1190 5.2132 Buyers Sellers % of Market EGP mn % Change Regional Indices Close % Change Retail (EGP mn) 1,014 872 44 EFG-Hermes 151 ▲0.5 Tadawul (KSA) 7,257 ▲1.3 Institutions (EGP mn) 1,151 1,292 56 Global Telecom Holding 119 ▼0.8 Dubai General 3,542 ▼0.3 Abu Dhabi Gen. 4,469 ▲0.3 Kuwait General 5,745 ▲0.5 Bahrain All share 1,211 ▲0.3 Muscat 30 5,761 ▲0.6 Market Breadth Unchanged Market Participants Investor Type Egyptians (EGP mn) Buyers Sellers Net Flow 1,934 1,995 -61 Arab (EGP mn) 103 107 -4 Foreigners (EGP mn) 127 62 65 EGX30 Intraday Chart 12,280 12,260 12,240 12,220 Closing Price Top Traded by Value % Change Ciatdel Capital 80 ▲5.6 TMG Holding 79 ▼3.4 Amer Group Holding 67 - Insider Trading Stock (Latest available) Type Volume Related Parties Arab Dev & Real Estate Sell 114,500 Board Member North Africa Co. Sell 100,000 Board Member Alex. Spinning & Weaviing Buy 93,7267 12,200 Related Parties Palm Hills Dev. Co. Sell 90,000 12,180 Board Member Lecico Egypt Buy 18,000 12,160 Board Member Al Baraka Bank Egypt Buy 6,658 12,140 10:00 10:20 10:40 11:00 11:20 11:40 12:00 12:20 12:40 13:00 13:20 13:40 14:00 14:20 Board Member United Housing & Dev. Buy 5,000 Board Member Medinet Nasr Housing Buy 1,000 Market Headlines Edita Food Ind. said it expects profit share of EGP128 mn from its subsidiary Digma Trading. OGM of Digma Trading approved distributing div. to shareholders according to the financial statements for FY15. Edita posted net profit EGP51.75 mn reported a dec. of 39.5% to in 3Q FY16. 1
2. THE CLOSING BELL BULLETIN JAZIRA SECURITIES BROKERAGE Tuesday , December 27, 2016 Daily Price Sheet Sectors / Companies Prices are in EGP unless stated otherwise EGX30 Jazira Securities Focus Companies Banking & Finance Commercial International Bank* Qatar National Bank Alahly Credit Agricole Egypt Bank Abu Dhabi Islamic Bank Al Baraka Bank Egyptian Kuwaiti Holding (USD)* EFG-Hermes Holding* Pioneers Holding* Citadel Capital* Naeem Holding (USD) Arabia For Investment & Development* Egyptians Abroad for Inv. and Dev. Belton Financial Holding Stevedoring United Arab Stevedoring Construction & Related Ezz Aldekhela Steel Ezz Steel Rebars* Sewedy Cables* Suez Cement Misr Beni Suef Cement Misr Cement (Qena) South Valley Cement Sinai Cement Paint & Chemicals Industries Lecico Egypt Aracemco Upper Egypt Contracting* Egyptian Electrical Cables* Orascom Construction limited Real Estate for National Banks Development Modern Water Proofing-Bitumode* Egyptians For Investments* Arabian Cement* Reuters Last Code Price .EGX30 12,182 COMI QNBA CIEB ADIB SAUD EKHO HRHO PIOH CCAP NAHO AIND ABRD BTFH 70.3 37.3 34.1 6.77 9.7 0.60 23.97 11.59 0.97 0.70 1.09 3.30 11.72 UAGS 0.89 IRAX ESRS SWDY SUCE MBSC MCQE SVCE SCEM PACH LCSW CERA UEGC ELEC ORAS NRPD WATP EIUD ARCC 455.0 17.00 75.0 16.0 21.5 82.6 5.29 19.9 19.1 3.95 2.50 0.89 0.86 103.1 8.10 0.74 1.83 6.83 Close DoD % Price Change ▼0.0 ▲1.0 ▲1.2 70.5 ▼0.6 37.3 ▼0.0 34.0 ▲0.3 6.65 ▲9.9 9.67 ▲1.3 0.59 ▲3.4 23.57 ▲1.5 11.67 ▼0.7 0.94 ▲9.0 0.69 ▲1.4 1.11 3.32 ▲0.6 11.86 ▼1.6 ▲0.0 0.90 ▲2.3 ▲6.8 455.2 ▲3.3 17.21 ▲0.5 75.7 ▼1.3 16.0 ▲3.3 ▼2.4 84.4 ▲0.2 5.33 ▼0.8 19.3 ▲0.3 19.0 ▲2.8 4.0 ▼1.0 2.53 ▼2.3 0.89 ▲1.1 0.86 ▲1.2 103.3 ▼0.1 8.1 ▼0.9 0.75 1.84 ▼1.1 6.94 ▼0.3 YTD % Change ▲73.9 ▲58.9 ▲66.7 ▲85.0 ▲24.2 ▲63.2 ▲35.4 ▼1.9 ▲15.4 ▲174.3 ▲54.7 ▼39.0 ▲70.7 ▲11.2 ▼12.9 ▲211 ▲6.0 ▲0.1 ▲110.1 ▲52.5 ▲89.3 ▲104.5 ▼26.6 ▼8.5 ▼3.4 ▲27.2 ▼16.6 ▼47.5 ▼9.0 ▼34.9 ▲2.3 ▲6.2 ▲52.9 ▼18.8 ▲17.5 ▲17.3 ▼28.6 Volume k 496,267 604,450 200,868 633 84,685 72 1,664 5 267 6,403 2,068 84,685 145 20,241 29 165 39,708 4,050 18,317 2 2,924 118 45 0 1 966 1 6 8 17 9,626 3,333 87 18 190 402 573 Value Yr. Yr. Market Cap % Free Weight EGP mn High Low (EGP mn) Float in EGX 1,078 12,534 5,526 319,085 45 100.0% 1,151 416,317 39 141% 338 149,001 55 53.7% 44.6 72.5 28.9 80,638 74 41.5% 0.2 39.0 25.2 24,035 3 2.4 34.8 18.1 9,787 29 11.1 6.3 3.1 1,354 38 0.2 10.4 8.0 1,240 26 1.4 0.6 0.4 5,397 45 1.7% 150.9 25.3 6.4 14,739 73 7.5% 24.1 12.6 4.9 8,210 32 1.9% 79.8 1.7 0.6 1,376 86 0.8% 0.9 0.7 0.3 1,745 41 22.6 1.2 0.8 480 98 0.3% 0.3 4.1 2.5 133 43 2.0 21.9 2.9 1,981 39 183 117,534 49 3.6 1.10 0.60 178 49 92 60,008 21 2.1% 1.0 500 188 6,081 33 50.3 18.1 6.1 9,236 33 2.1% 9.0 84 28 16,761 36 4.2% 0.7 25.5 8.7 2,910 47 0.0 27 17 1,613 55 0.1 90.0 70.0 2,467 50 5.1 6 3 2,551 50 0.0 25.7 19.0 1,392 57 0.1 30 17 457 33 0.0 4.5 2.0 316 55 0.0 4 2 313 33 8.6 1.0 0.6 504 67 0.2% 2.9 1 1 448 69 9.0 109.0 48.2 12,171 13 1.1% 0.1 10.5 6.0 42 76 0.1 1.0 0.5 88 64 0.7 2.2 1.2 73 74 4.0 10.0 4.3 2,587 23 - Weight in Focus 70.9% 100.0% 47.2% 33.7% 0.4% 1.6% 0.3% 0.2% 1.4% 6.1% 1.5% 0.7% 0.4% 0.3% 0.0% 0.4% 0.0% 0.0% 11.3% 1.1% 1.7% 3.4% 0.8% 0.5% 0.7% 0.7% 0.5% 0.1% 0.1% 0.1% 0.2% 0.2% 0.9% 0.0% 0.0% 0.0% 0.3% Jazira Securities focus companies include EGX30 in addition to other companies included in the Daily price sheet which Jazira Securities Research believe are worth following on a daily basis DoD change in the daily price sheet are based on last price and historical close while performers percent change in page one are based on the closing VWAP and today’s session opening price Sectors DOD & YTD changes are value weighted Index, Jazira Focus and Sectors PER & DY are based on their respective market capitalizations, total earnings and dividends* EGX constituent NI: Not Included Weight in EGX & Jazira Securities focus companies are based on free float market capitalization 2015 (a) 27.7 19.0 15.2 19.2 8.4 10.4 6.4 5.5 12.5 33.6 10.2 n/a 164.8 n/a 11.0 457.0 n/a n/a 16.2 n/a n/a 12.5 n/a 20.7 10.8 35.9 n/a 11.2 n/a 8.1 7.3 18.3 n/a 14.6 n/a 42.2 9.5 PER (x) 2016 (e) 14.3 12.2 12.7 14.8 6.2 8.1 4.3 4.2 10.4 32.0 9.3 n/a 329.7 n/a 9.7 761.7 n/a n/a 11.3 n/a n/a 5.9 n/a 21.8 10.3 34.2 34.1 7.4 4.1 5.6 10.5 17.5 n/a 36.5 n/a 41.4 8.6 2017 (e) 12.3 10.1 9.4 11.0 5.0 6.0 3.5 3.4 9.4 29.1 8.9 n/a 314.0 84.1 9.2 725.4 n/a n/a 9.3 n/a n/a 5.7 n/a 20.7 9.3 29.7 32.5 6.2 3.9 4.7 10.3 16.6 n/a 34.8 1.0 40.6 8.2 DY (% ) 2015 (a) 2016 (e) 2017 (e) 1.1 1.7 2.2 2.1 2.5 2.9 2.3 3.0 3.8 1.9 2.7 3.6 0.9 3.3 2.5 6.2 8.2 12.0 8.3 5.4 7.5 4.2 3.3 3.7 0.2 0.1 1.3 1.3 1.0 0.0 18.2 13.7 0.7 2.8 1.4 2.7 9.3 8.2 16.6 1.8 1.7 3.1 2.2 1.8 5.6 6.3 7.0 5.0 4.3 3.4 5.2 10.7 11.3 25.3 5.8 6.1 2.0 9.0 12.9 1.4 1.9 5.8 10.1 7.0 7.8 6.7 7.5 Daily Price Sheet continued next page... 2
3. THE CLOSING BELL BULLETIN JAZIRA SECURITIES BROKERAGE Tuesday , December 27, 2016 Daily Price Sheet (continued) Sectors / Companies Prices are in EGP unless stated otherwise Egyptian Iron and Steel* Durable Goods Ghabour Auto* Food & Related Abu Kier Fertilizers Egyptian Financial & Industrial* Juhayna Food Industries Delta Sugar National Co. for Maize Products Edita food industries Eastern Company* Arabian Food Industries* Milling Upper Egypt Flour Mills Middle & West Delta Flour Mills East Delta Flour Mills North Cairo Mills Middle Egypt Flour Mills South Cairo Flour Mills Alexandria Flour Mills Oil Related Sidi Kerir Petrochemicals* Alexandria Minerals Oil Company Maridive & Oil Services (USD) Egypt Gas Extracted Oils* Pharmaceutical Egyptian Int. Pharmaceuticals Ind. (EIPICO) Glaxo Smith Kline Minapharm Pharmaceuticals Reuters Code IRON Last Price 6.61 AUTO 3.26 ABUK EFIC JUFO SUGR NCMP EFID EAST DOMT 105.0 9.10 6.17 13.0 13.30 14.2 282.0 6.3 UEFM WCDF EDFM MILS CEFM SCFM AFMC 75.1 63.0 58.5 15.0 16.6 13.61 15.8 SKPC AMOC MOIL EGAS ZEOT 17.5 75.5 0.26 59.0 0.8 PHAR BIOC MIPH 81.0 9.9 70.6 Close DoD % Price Change 6.67 ▼1.2 ▼3.8 3.32 ▼3.8 ▲0.2 105.0 ▼1.3 9.09 ▲5.4 6.19 ▼1.0 0.0 ▲3.6 13.3 ▲0.7 14.4 ▼1.4 281.8 ▲0.7 6.5 ▼2.2 ▲0.3 0.0 58.5 ▼0.5 15.0 ▲2.2 16.9 ▲1.7 0.0 ▲0.1 15.8 ▲0.4 17.7 ▼0.7 77.2 ▼0.7 0.26 55.7 ▲5.3 0.9 ▼1.2 ▲1.0 81.0 ▲0.9 0.0 0.0 - YTD % Change ▼0.3 ▼5.0 ▼5.0 ▲3.6 ▼25.6 ▲29.1 ▼22.9 ▲33.2 ▼18.9 ▼55.6 ▲61.1 ▼31.1 ▲33.3 ▲25.1 ▲52.9 ▲51.4 ▲7.1 ▲41.5 ▲29.6 ▲1.1 ▲82.2 ▲54.0 ▲199.6 ▼13.3 ▲88.8 ▲3.7 ▲18.2 ▲13.4 ▼1.3 ▲135.2 Volume k 480 1,931 1,931 2,878 1 2,460 366 1 2 40 9 130 41 0 0 0 10 30 0 1 1,021 346 131 537 7 563 6 6 0 0 Value EGP mn 9.0 6 6.4 28 0.2 22.4 2.3 0.0 0.0 0.6 2.4 9.0 1 0.0 0.0 0.0 0.1 0.5 0.0 0.0 18 6.1 10.1 1.2 0.4 1.1 0 0.5 0.0 0.0 Yr. High 7.5 Yr. Market Cap % Free Weight Low (EGP mn) Float in EGX 4.4 3,229 9 0.2% 3,566 55 1.4% 3.6 1.8 3,566 55 1.4% 36,764 39 4.7% 143 96 8,834 30 9.0 5.6 631 55 8 4 5,808 49 14.8 8.0 1,849 38 17 11 393 57 20.0 7.5 5,150 9 0.3% 291.0 142.6 14,100 39 3.9% 10.9 4.2 1,792 43 17.1% 1,961 0 85 56 525 48 73.0 37.0 473 38 64 35 351 45 16.0 11.3 161 43 19 10 244 33 16.2 8.6 82 29 18 13 126 17 17,332 43 18.8 10.0 9,188 49 77.0 21.3 6,501 39 0.3 0.2 935 34 66.0 26.1 708 20 1.0 0.6 132 68 8,504 0 98.0 55.8 6,426 56 11.6 7.8 825 8 76.0 25.7 868 19 - Weight in Focus 0.2% 1.1% 1.1% 7.0% 1.5% 0.2% 1.6% 0.4% 0.1% 0.3% 3.1% 0.0% 0.4% 0.1% 0.1% 0.1% 0.0% 0.0% 0.0% 0.0% 4.3% 2.5% 1.4% 0.2% 0.1% 0.1% 2.3% 2.1% 0.0% 0.1% Jazira Securities focus companies include EGX30 in addition to other companies included in the Daily price sheet which Jazira Securities Research believe are worth following on a daily basis DoD change in the daily price sheet are based on last price and historical close while performers percent change in page one are based on the closing VWAP and today’s session opening price Sectors DOD & YTD changes are value weighted Index, Jazira Focus and Sectors PER & DY are based on their respective market capitalizations, total earnings and dividends* EGX constituent NI: Not Included Weight in EGX & Jazira Securities focus companies are based on free float market capitalization 2015 (a) n/a 18.6 18.6 10.3 9.8 10.6 6.1 68.5 8.3 285.0 13.9 13.9 9.8 7.9 9.1 31.1 8.3 11.8 26.9 4.6 20.5 12.2 21.5 n/a 237.3 228.5 15.6 18.0 11.9 10.8 PER (x) 2016 (e) n/a 17.7 17.7 9.6 8.7 13.2 6.1 40.3 5.8 232.6 12.6 18.2 7.5 6.5 6.7 29.7 18.0 4.1 25.6 4.4 13.2 12.9 16.7 4.3 226.0 217.6 14.2 15.6 9.9 14.4 2017 (e) n/a 16.9 16.9 9.3 8.2 13.0 6.1 38.4 5.3 202.3 12.0 10.3 6.8 5.9 5.8 28.2 17.2 3.9 24.4 4.2 12.8 11.7 18.6 4.1 215.2 207.2 13.0 14.2 9.0 13.7 DY (% ) 2015 (a) 2016 (e) 2017 (e) 4.6 5.4 6.0 8.0 9.5 11.5 6.8 2.8 3.3 2.4 3.6 2.7 11.4 16.1 17.6 3.5 3.5 3.9 9.0 8.6 10.1 9.0 10.0 11.3 8.7 9.9 10.6 9.0 10.3 11.4 10.7 6.7 5.8 7.2 2.7 8.2 7.3 5.5 6.8 10.8 9.6 10.0 6.4 5.5 5.4 7.1 6.9 6.0 6.6 5.0 5.7 3.4 1.6 2.0 4.5 5.5 6.0 4.3 5.2 5.7 7.3 9.5 10.4 2.8 3.3 3.8 Daily Price Sheet continued next page... 3
4. THE CLOSING BELL BULLETIN JAZIRA SECURITIES BROKERAGE Tuesday , December 27, 2016 Daily Price Sheet (continued) Sectors / Companies Prices are in EGP unless stated otherwise Real Estate & Related T M G Holding* Nasr City Housing Heliopolis Housing* Palm Hills Development Company* Amer Group* SODIC* Egyptian Resorts Company United Housing & Development Cairo Housing Remco for Touristic Villages Construction Emaar Misr Porto Group Holding Telecom, Media & IT Telecom Egypt* Global Telecom Holding* Orange Egypt Orascom Technology, Media and Telecom* Egyptian Media Production City Raya Holding Textile & Related Oriental Weavers Arab Cotton Ginning* Reuters Last Code Price TMGH MNHD HELI PHDC AMER OCDI EGTS UNIT ELKA RTVC EMFD PORT 9.4 20.8 24.1 3.1 0.31 15.2 1.13 8.0 11.0 1.9 3.0 0.3 ETEL GTHE EMOB OTMT MPRC RAYA 11.8 7.2 102.0 0.86 3.2 5.3 ORWE ACGC 14.8 5.2 Close DoD % Price Change ▼2.1 9.5 ▼3.1 21.1 ▼2.0 24.4 ▼2.0 3.1 ▼2.2 0.31 15.3 ▼1.7 1.08 ▲9.7 8.1 ▼2.4 11.2 ▲1.9 1.9 ▲2.2 3.0 ▼2.3 0.3 ▼3.3 ▼2.7 12.0 ▼2.5 1.26 ▼4.0 0.0 0.86 ▲1.2 3.3 ▼1.2 5.3 ▲0.6 ▼21.9 15.1 ▼2.7 5.0 ▲5.9 YTD % Change ▲11.1 ▲46.4 ▼24.2 ▼51.1 ▲27.9 ▼31.1 ▲61.7 ▲34.5 ▼16.5 ▼2.5 ▲27.0 ▲8.4 ▼29.3 ▲104.8 ▲83.8 ▲248.8 ▲6.3 ▲22.9 ▲28.8 ▲25.9 ▲33.9 ▲88.2 ▲79.3 Volume k 120,077 6,806 3,860 1,062 18,779 29,556 1,675 49,867 49 2 492 7,928 33,240 74,226 2,172 9,150 0 62,717 144 42 23,791 783 14,551 Value EGP mn 345 64.6 81.4 25.9 59.0 9.2 25.7 54.1 0.4 0.0 0.9 23.7 10.0 147 26.0 66.4 0.0 53.7 0.5 0.2 95 11.8 73.3 Yr. High 9.8 21.6 25.9 3.4 0.5 16.7 1.1 9.4 12.1 2.0 3.3 0.4 13.5 7.8 143.0 1.0 3.7 5.6 17.3 5.1 Yr. Market Cap % Free Low (EGP mn) Float 58,176 44 4.4 19,336 50 11.2 5,200 60 9.3 2,682 28 1.7 7,204 56 0.2 1,413 39 6.6 5,151 74 0.6 1,187 77 5.8 872 67 9.4 991 66 1.2 466 27 1.9 13,673 11 0.2 1,322 39 73,512 22 5.5 20,143 20 1.5 37,507 25 81.8 10,201 4 0.5 4,511 41 2.1 611 39 3.4 539 55 7,591 63 4.9 4,590 58 2.3 1,377 94 Weight in EGX 17.3% 6.7% 2.2% 0.5% 2.8% 0.4% 2.7% 0.6% 1.0% 0.4% 10.7% 2.8% 6.6% 1.3% 0.9% 0.9% Weight in Focus 14.6% 5.5% 1.8% 0.4% 2.3% 0.3% 2.2% 0.5% 0.3% 0.4% 0.1% 0.9% 0.3% 9.2% 2.2% 5.4% 0.2% 1.0% 0.1% 0.2% 2.7% 1.5% 0.7% 2015 (a) 26.2 28.5 29.8 17.0 19.3 8.1 36.2 n/a 30.5 12.5 6.5 36.1 35.7 n/a 7.8 n/a n/a n/a 80.9 5.7 23.3 20.0 41.5 PER (x) 2016 (e) 14.9 26.5 25.6 15.3 6.8 9.2 16.6 3.7 28.9 12.3 8.3 17.7 15.2 10.8 6.8 n/a 196.3 1.3 77.1 4.7 21.7 18.4 39.5 DY (% ) 2017 (e) 2015 (a) 2016 (e) 2017 (e) 16.6 1.5 1.2 1.4 23.0 1.6 1.6 1.6 19.7 9.6 5.6 7.7 9.5 16.9 4.8 0.6 1.0 6.4 3.4 8.6 14.0 15.9 18.7 17.5 16.5 10.4 14.7 13.8 2.1 10.0 0.6 1.6 2.0 6.2 1.7 5.1 6.8 142.4 163.6 1.3 73.4 4.3 12.5 23.8 21.3 12.2 2.7 3.1 4.5 12.2 3.1 3.5 5.1 37.7 - Jazira Securities focus companies include EGX30 in addition to other companies included in the Daily price sheet which Jazira Securities Research believe are worth following on a daily basis DoD change in the daily price sheet are based on last price and historical close while performers percent change in page one are based on the closing VWAP and today’s session opening price Sectors DOD & YTD changes are value weighted Index, Jazira Focus and Sectors PER & DY are based on their respective market capitalizations, total earnings and dividends* EGX constituent NI: Not Included Weight in EGX & Jazira Securities focus companies are based on free float market capitalization 4
5. THE CLOSING BELL BULLETIN JAZIRA SECURITIES BROKERAGE Tuesday , December 27, 2016 Jazira Securities Brokerage 15 Shooting Club Street, Dokki, Giza, Egypt Tel: (+202) 3760 9915 - 37609941 Fax: (+202) 3760 9883 www.jaziracapital.com Jazira Securities Online Trading You can trade online through Jazira Securities online trading portal ... Please contact the Marketing Department for further information. JSB Contacts Title Land Line Email Hussein El Sawalhy, CFA Managing Director (+202) 3760 9915 helsawalhy@jaziracapital.com Ahmed Helmy Head of Sales & Trading (+202) 37609941 ahelmy@jaziracapital.com Nada Safeer Research Department (+202) 37609883 nsafeer@jaziracapital.com Mohamed Mamdooh, CETA, CFTe Senior Technical Analyst (+202) 3760 98 73 mmamdooh@jaziracapital.com George Mansour Customer Service +20122 921 4069 gmansour@jaziracapital.com Amr Abdo Marketing Manager +20109 166 1366 amrabdo@jaziracapital.com Disclaimer • Jazira Securities Brokerage (JSB) is a licensed Egyptian Stock Market Broker, regulated by the General Authority for Financial Supervision. • Opinions, estimates and projections contained in the research reports or documents are of the author as of the date published and are subject to change without notice • JSB research reports or documents are not, and are not to be construed as, an offer to sell or solicitation of an offer to buy any securities. • Unless otherwise noted, all JSB research reports and documents provide information of a general nature and do not address the circumstances of any particular investor. • Neither JSB nor its mother company (Jazira Capital), or any of its affiliates accept liability whatsoever for any investment loss arising from any use of the research reports or their contents. • The information and opinions contained in JSB research reports or documents have been compiled or arrived at from sources believed reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness. • • • • JSB, Jazira Capital or any of its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent. JSB research reports and all the information opinions and conclusions contained in them are protected by copyright. The research reports or documents may not be reproduced or distributed in whole or in part without express consent of JSB Research. JSB research reports or documents, recommendations and information are subject to change without further notice. 5