SODIC is studying pushing back the launches of new projects/phases which were planned for this year, for a few weeks, until “clarity is brought to the market” following the decision to float the EGP. This is according to Magued Sherif, MD, who was quoted in a phone interview with Bloomberg. We believe this may place some risk on the company’s planned 30-feddan project launch, which was set for November-December of this year. We had estimated the project to bring-in cEGP300,000mn in contracted sales during the year. (Bloomberg, Mai Attia, Sara Boutros)   SODIC: EGP13.51 as of 03 November 2016, Rating: Buy, FV: EGP17.34 per share, MCap: USD320mn, OCDI EY / OCDI.CA