March 6, 2018/PwC Overall, African equity capital market transaction volume and value improved in 2017 over 2016. In terms of value, 2017 saw the largest initial public offerings (IPOs) over the trailing five-year period, and an increase in the total value of equity capital market (ECM) transactions of 49% between […]
Investors Bite
Egypt Bourse Expects Up to Seven IPOs This Year, Most Since 2011
5/3/2018/Bloomberg By Tamim Elyan and Yousef Gamal El-Din The Egyptian stock exchange is expecting as many as seven initial public offerings this year, starting as soon as this month, which would be the highest number of share sales since the 2011 uprising that ousted President Hosni Mubarak. An IPO this […]
Guinness Nigeria Plc – We Remain Underweight
March 5, 2018/Cordros Capital Verdict At our revised TP of NGN68.59 (35% downside), we find the shares of GUINNESS expensive at current market price of NGN104.90. On our estimate, the stock is trading at 2018F P/E (35.2x) and EV/EBITDA (10.1x) multiples that are at premium to both the company’s 5-year […]
