Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) (2070.SE) has announced that the floatation of the EGP will have a negative impact of SAR40mn on the company’s 4Q16 consolidated results, which was calculated based on the FX rate running on the day floatation was announced. SPIMACO has decided to halt its exports to Egypt temporarily, until it reaches an agreement with the Egyptian government to re-price its products based on current exchange rates. Also, the company will run a study to assess the feasibility of local production in Egypt. (Tadawul)   SPIMACO: SAR35.20 as of 13 November 2016, Rating: Buy, FV: SAR45.00 per share, MCap: USD1,126mn, SPIMACO AB / 2070.SE