EL SEWEDY ELECTRIC - SPOTLIGHT
​We upgrade our fair value for El Sewedy Electric (SWDY.CA) by 55.7% from EGP 62.8/share to EGP 97.8/share following the floatation of the EGP, which took place back in November 2016. We assign an “ACCUMULATE†rating for the stock; and an upside potential of 10.6%. This upgrade came on the back of the floatation with El Sewedy being in perfect position to reap its benefits. We await the company’s announcement of 4Q2016 results, which could affect our valuation of the company due to the expected FX gains and updated strategy plans.
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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