ABU QIR FERTILIZERS - VALUATION UPDATE
​We upgraded our fair value for Abu Qir Fertilizers (ABUK) by 29.5% from EGP 114.94/share to EGP 148.90/share following the latest changes in the industry which had a significant effect on the company’s valuation. We assign an “BUY†rating for the stock; with an upside potential of 15.9%. Following the floatation, which took place back in November, significant changes took place affecting the industry significantly making fertilizers an attractive sector with huge room for growth.
Since its founding in 1992 as a privatization consulting office to the government of Egypt, Prime has successfully reinvented itself as a regional investment bank with a presence in major Arab markets. We provide innovative and outstanding financial services to corporations, institutions, governments, and individuals, using the breadth of our expertise to enable them to reach their objectives.
Over the years, we have refocused our business and our people while extending our geographical reach and strengthening our technological capabilities.
Today, Prime is:
- A competitive leader in the region
- Focused on both clients and products
- Led by pioneers who see change as an opportunity that constructively challenges the status quo
- Driven by a fearless and unconditional commitment to delivery and performance
- Supported by a culture that emphasizes teamwork and a sense of urgency
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