COMI Through Devaluation History

The following data is historical data that shows and describes how Commercial International Bank -COMI shares price reacted to the previous devaluation between 16 November 2016 and 31 December 2017.

Implementing the previous prices on the current market prices as a target is not by any means our target; we are just highlighting a prior behavior for the main index EGX30 highest weight stock. (it's not a recommendation to buy or sell, and our terms of use and disclaimer apply)

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Post-2016 floatation, the Egyptian stock market witnessed a repricing wave. This wave extended post the floatation till the end of 2017.

We will assess COMI share's performance through statistical during that period in USD as a proxy to the index. In this period, COMI share's average price in USD reached USD 1.73/stock, with the minimum and maximum levels came in at USD 1.44 and 1.97 per stock, respectively.

On the other hand, COMI share's average PB reached 3.90x, with the minimum and maximum levels reaching 3.12x and 4.44x, respectively.

The following analytical and statistical view describes more the COMI behavior to devaluations.

FX Rate Implications shows COMI Share's price ranges during the previous devaluation cycle at the current FX rates adding to it the PB history during this historical period and how these multiplies apply to the current BVPS. This analytical and statistical view describes more the COMI behavior to devaluations.

You can download the sheet from here

The data sources include Bloomberg - Reuters - EGX - Company disclosure.

Terms we used:

Range Price: represents the Max, Min, Avg prices in USD during the period

Range Price EGP: the historical price range during the period calculated at the current FX rate.

Range PB: the historical PB at the day of the range prices.

PB in EGP: the range PB calculated at the current BVPS.

Implied PB: the range price EGP calculated at the current BVPS

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