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00:00 To talk more about the closure of Egyptian banknotes, we join us from Cairo, Mr. Mohamed Atta, the managing director of Universal Bank for the circulation of financial documents.
00:07 Mr. Mohamed, welcome to us and thank you for being here.
00:11 Since the beginning of the week, the steps are rapid towards the level of 2000 points, and today a slight difference is moving the EGX30 notary from this level.
00:21 We even noticed an improvement in liquidity above the level of 3 billion.
00:25 In your opinion, what is supporting the movements of the notary at this level, and what are the categories that can reach our levels after 20,000 points?
00:38 Good evening and welcome.
00:42 Let's say today's summary of the session is the shares, deals and acquisitions.
00:49 The beginning of the week showed good performance on the EGX30, we saw a breakthrough of 19,000 points, then we reached 19,700.
00:57 The EGX had a partial profit during the last period, we reached 19,100, and from that we return to targeting the 20,000 point, which was actually achieved today, but we could not settle on it.
01:08 Let's say that the market leaders, especially the shares, which, as we said, were carried out by deals or acquisitions, whether with a strategic investor or a private investor,
01:17 are the black horses today in today's session, and they made it difficult for the notary to break the 20,000 point barrier today, but we could not settle on it, in addition to the good performance of the international trade.
01:31 Indeed, we saw today the situation of a balance between the EGX30 and the EGX70, and this is normal in light of the hacking or registration of new quantitative and historical levels in the shares,
01:43 in light of the acquisition or visit of other shares within these companies, so it was normal to see a transformation or rotation of the liquidity operations or liquidity inflation
01:54 of the EGX70 shares and the acquisition of opportunities in the leading shares, which achieved large numbers and is assumed to be a target or a target for the future.
02:06 The market class in general, whether institutions or individuals of all nationalities, Arabs or foreigners, or even local investors,
02:15 I think today their eyes are on the leading shares, especially in the petrochemical sector. We see good performance of Moboco, Abuqeer, Sidiqreer, and others, the oil and gas industry, and the prayer industry.
02:26 All the shares that the news has been talking about, about acquisitions or deals that have been made in the past and the increase in the percentage in the coming period,
02:34 I think this has increased the interest of investors to push for new liquidity, whether for institutions or individuals, within these shares.
02:42 I think this was a major factor or a major influence in the penetration of the EGX30 today at the level of 20,000 points,
02:49 in addition to the good performance of the state-owned state-owned companies, which has the largest percentage in the index.
02:54 I think that the situation of the exchange rate that has occurred today between Jania and Arbaa, is part of the EGX70, which still has its advantages in the market and will not continue much.
03:03 I think that the shares that have been made today, or the ones that have been approved, or the ones that have been made profitable, whether for individuals or all the stakeholders in the market,
03:11 I think it will start again in the rise and we will see another level of rise.
03:16 The positive is still in control of the performance of the index, whether the EGX30 or EGX70, and I think the Egyptian market is still facing strong targets.
03:23 We will start again to try to reach the 20,000 limit, which I think we will try more than once until we settle on it, and from this the levels will be higher during the last quarter of the year.
03:33 Let us also say that the situation of waiting for the central decisions at the end of the current week, or the Finance Committee,
03:40 is a big influence in the market during the next two days or the remaining two sessions in the Egyptian stock market during the current week.
03:47 We see a statement from the Critical Fund regarding the market.
03:53 Mr. Mohamed is talking about the Egyptian market being the highest in August compared to the performance of the markets in the region.
04:02 Is this statement also a preparation for the review of the Critical Fund, and is it a positive point in the development of the discussions between Egypt and the Fund?
04:18 If we talk in a more realistic way, let us say that one of the most important solutions to the problem of foreign currency in Egypt or the entire Egyptian economy,
04:32 and the provision of foreign currency or dollar due to the gap in the Egyptian economy,
04:38 I think one of the most important tools that will be used in the coming period is the Egyptian exchange rate.
04:44 Since the government's proposals, the seizures, the document of the state's ownership policy,
04:51 and the withdrawal of the private sector from the government to a strategic investor or to the public bid,
04:56 this has caused a magic effect on the market and the performance of the exchange rate,
05:00 and the performance of the exchange rate has completely changed after the talks about these proposals or the seizures in the past period.
05:06 It is natural that after the last review, which I think will be postponed until the beginning of the next year or the first quarter of the next year,
05:15 the statement is made as a result of the withdrawal of the private sector from the government to the public bid in the past period,
05:22 and the Fund is fully responsible for the government's responsibility for the seizure of the private sector in the coming period.
05:31 I think this will be the most important tool to solve the problem in the Egyptian economy in the coming period.
05:38 In contrast, we also see some of the talks that say that we can see a new proposal for the administrative capital, Mr. Mohamed.
05:47 If these news and their health are completed between 5% and 10%,
05:51 how much will there be a direct impact on the market and also on the companies that are working in the same sector, the real estate sector?
05:59 I think all sectors of the Egyptian market are in a state of complete thirst for new goods or the entry of new goods into the market or companies in the coming period.
06:11 I think that such news with new proposals or the entry of new entities into the market in the coming period
06:19 will have a very positive impact on the performance of the market and the exchange rate in the coming period.
06:24 On the contrary, we saw yesterday the announcement of a company called Bakin about leaving the market.
06:29 I think that the market has nothing to do with such news in the coming period.
06:35 We are always looking for and are always keen to increase the number of companies that will enter or enter the market and increase the number of goods.
06:43 This is to increase the reputation of investors or operators and to put the variety or the wide options in front of the operators,
06:50 whether they are local, Arab or foreign, to invest and put new liquidity into the market.
06:55 I think that any talk about proposals or increasing companies to any sector in the market,
07:00 especially a company like Al-Assam Administration with the size and weight of this company,
07:05 I think it will have a very strong and positive impact on the real estate sector and the market as a whole in the coming period.
07:10 DICE is also receiving 90% of its liquidity that it may receive from this sale, over one billion pounds, Mr. Mohamed.
07:20 But we saw a good move on the shares at the beginning of the session before the profit-making processes began.
07:25 In your opinion, how much will the shareholders benefit from the DICE company from the sales and liquidity operations that will be available?
07:33 In your opinion, how will it be planned to exploit?
07:38 First, let's talk about any acquisition or acquisition deals on any company,
07:43 which is positive or has a positive impact on the performance of the share in the market.
07:48 But when we look at the offered price or the acquisition ratio of 90% versus 65%,
07:55 it is a very close ratio to the market value for the share, but far from the fair value of the company.
08:01 The company has achieved good profits during the first quarter and the second quarter and during the past six months of the current year.
08:07 I think this will be a starting price and the value of the company will be higher than the number that was offered.
08:12 But let's say that the acquisition or the talk about acquisition or the investment passion for acquisition
08:19 is a large percentage within the company, this will increase the profitability of the share and its performance in the market in the coming period.
08:24 Thank you, Mr. Mohamed Atta, the director of the exchange of Universal companies for the exchange of financial documents.
08:30 You were with us from Cairo.
08:32 Here, I'll.