Latest news with #EgyptianStockExchange
See - Sada Elbalad
20-07-2025
- Business
- See - Sada Elbalad
EGX Concludes Week's First Session with Collective Gains ... Market Cap Gains EGP 16.9 Bln
Taarek Refaat The Egyptian Stock Exchange (EGX) wrapped up its first trading session of the week with broad-based gains, propelled by strong buying activity from both domestic and foreign investors. The market cap saw an impressive rise of EGP 16.9 billion, closing the day at a total of EGP 2.409 trillion. The benchmark index "EGX30" ended the session up by 0.74%, reaching 34,071 points. This positive movement was a clear indication of investor confidence in the market, reflecting an optimistic outlook despite global economic uncertainties. In tandem with the main index "EGX70", which tracks the performance of smaller and mid-sized stocks, surged by 1.68%, closing at 10,298.03 points. The EGX100, which represents a broader spectrum of listed stocks, also gained by 1.5%, settling at 13,937.27 points. The collective growth in indices today is attributed to favorable market conditions, alongside active participation from institutional investors and foreign traders. As the Egyptian economy continues to recover from various challenges, the positive momentum in the stock market indicates a promising outlook for the coming weeks. Experts remain optimistic about the stability and growth prospects of the Egyptian market, particularly with the recent fiscal reforms and economic policies aimed at enhancing investor confidence and boosting economic performance. As we head into the rest of the week, all eyes will be on global economic developments and their potential impact on the local market. However, the solid performance on this first session sets a positive tone for investors looking to capitalize on the opportunities presented by the Egyptian stock exchange. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
Al-Ahram Weekly
17-07-2025
- Business
- Al-Ahram Weekly
Parting ways with traditional investment - Economy - Al-Ahram Weekly
The growing interest in the two recent listings on the Egyptian Stock Exchange highlights a shift in investor perceptions of what constitutes a sound investment For decades, Egyptians have viewed investment opportunities through the narrow lens of real estate, gold, and more recently certificates of deposit. However, the recent listings of ValU and Bonyan on the Egyptian Stock Exchange (EGX) have stirred a buzz among market observers and investors due to the companies' unconventional and highly profitable business models and different fields of work — consumer financing and income-generating real estate. ValU, established in 2017, is a leader in financial technology (fintech), a field that is rapidly growing in Egypt and offering a wide array of services. The buy-now-and-pay-later service, one of the most widely used service offered by fintechs, has become the go-to solution for Egyptians who can't afford to buy expensive commodities, let alone even essential products, in cash. ValU has a share of 27 per cent in the consumer financing market, with a competitive advantage in the car loans segment in particular. The company extends more than LE350 million in auto loans monthly. As for Bonyan, 'We buy properties that are either fully constructed or nearing completion. Then, we lease them to international and Egyptian companies. So, in essence, what we do is similar to how individuals invest in real estate, but we do it institutionally, while focusing on leasing commercial and office spaces,' Shamel Aboul Fadl, Bonyan's CEO, said in a recent interview with Arab Finance. 'Our activity is completely different from that of typical real estate developers operating in the market. We do not build or develop properties, we acquire finished, ready-to-use properties for leasing purposes,' he added. Market observers view this line of business as a lifeline for real estate developers. By selling their units directly to businesses like Bonyan, developers can recover the needed capital and shift their focus to building new units, rather than having to wait for the properties to be sold through long-term instalment schemes. Meanwhile, the buyers of Bonyan shares gain easy access to diversified, professionally managed real estate, without owning property. Amr Hassan Al-Alfi, an equity analyst at Thndr, a trading platform and mobile app focused on investment, wrote in a report on Bonyan: 'For the first time, investors can buy in a business that owns income-generating commercial and administrative real estate like Walk of Cairo and gives you exposure to stable rental income, all through the stock market.' Bonyan is offering 21 per cent of its shares through initial public offering and private placement, selling stake to targeted institutional investors. In this case, investment banks collect orders from investors before the listing. On launching day, shares are priced and sold, before the stock starts trading publicly. ValU's offering took place differently. EFG Holding, the parent company of ValU and one of the region's leading investment banks, opted to distribute a portion of its profits through an in-kind dividend, offering a partial stake in ValU instead of cash. The company allocated approximately 20.5 per cent of ValU's shares to EFG's shareholders, with the transaction valued at around LE3.2 billion. As a result, each EFG shareholder now owns a stake in ValU. The shares are officially listed on the stock exchange, though they are not necessarily actively traded. This is known as 'technical listing', whereby shares are listed on the exchange but only sold at a later stage, contingent upon future demand. On its first day of trading among EFG shareholders, the value of ValU shares surged by 852.4 per cent from their opening price of LE0.78. Bonyan's private placement was 6.88x oversubscribed and until Monday the retail offering was 5x oversubscribed. The subscription closing day was scheduled for 16 July. Building on their sound performance, the two companies have plans for expansion. ValU is preparing to launch its services in the Jordanian market. Bonyan's Aboul Fadl said that in addition to the company's focus on the office real estate market, it is exploring investments in the warehousing and logistics sector, particularly facilities leased to multinational corporations and major Egyptian companies. The company's investment portfolio hovers around LE17 billion as of March. According to Thndr, Bonyan owns 10 premium commercial properties in East and West Cairo with 93 per cent occupancy. The 119 tenants of the company's units include major brands such as Nestlé, Turkish Airlines, Grohe, GE, Johnson & Johnson, and Vodafone. Moreover, 56 per cent of the properties are leased in US dollars, providing a built-in hedge against inflation. As for Valu, beyond its lending and payment services, its financial solutions portfolio includes a cash redemption programme, savings plans, and a financing option designed to facilitate the purchase of big-ticket items worth up to LE15 million. 'We want people to use their ValU cards to top up their mobile phone credit, and we're also seeing them use our app to buy yachts,' Walid Hassouna, CEO of ValU, told Enterprise Online news service. The number of clients within Egypt's consumer finance segment grew nearly 16-fold between 2020 and 2024, rising from over 250,000 to more than four million. Currently, there are 45 companies licensed to provide consumer finance services in Egypt, according to Thndr. Valu and Bonyan's listings have injected much-needed vitality into the market, which has seen little to no initial public offering activity in recent months — the most recent being the public offering of United Bank in November. The growing appetite for such offerings is expected to encourage the government to advance its stalled privatisation programme. Prime Minister Mustafa Madbouli recently stated that the government intends to privatise a number of public companies via the stock exchange, with targeted proceeds ranging between $5 and $6 billion. The slow pace of the privatisation programme is the primary reason behind the IMF's decision to postpone the disbursement of the fifth tranche of its $8 billion loan, according to Madbouli. * A version of this article appears in print in the 17 July, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:
See - Sada Elbalad
09-07-2025
- Business
- See - Sada Elbalad
Egyptian Exchange Resumes Trading
Rana Atef On Wednesday, the Egyptian Stock Exchange resumed trading after it was suspended due to a fire at the Ramses major telecommunications center in Cairo. Yesterday, Rania Yaacoub, a member of the Egyptian Stock Exchange, stated that the fire at Ramses Central caused a major disruption to internet and landline services. This had a direct impact on market operations and the ability of clients to communicate with brokerage firms and regulatory bodies. Speaking in an interview on Cairo News, Yaacoub explained that the disruption hindered the usual flow of daily operations, prompting the stock exchange administration to suspend trading during Tuesday's session. She emphasized that the decision was made to uphold the principle of equal opportunity for all market participants, noting that allowing trading to continue amid imbalanced service access would have harmed investors' interests. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Al Arabiya
09-07-2025
- Business
- Al Arabiya
Egypt stock exchange resumes operations after Cairo fire disrupts telecoms
The Egyptian stock exchange said it will resume operations on Wednesday after telecommunications were disrupted due to a fire in central Cairo on Monday. Developing...
Jordan News
08-07-2025
- Business
- Jordan News
Egypt: 4 Dead, Dozens Injured in Ramses Telecom Building Fire - Jordan News
Egypt: 4 Dead, Dozens Injured in Ramses Telecom Building Fire Four people have died and around 30 others were injured in a fire that broke out at the Ramses Telecom Center in downtown Cairo on Monday, according to Egyptian media reports on Tuesday. اضافة اعلان Egypt's Minister of Communications, Amr Talaat, stated that telecom services will gradually resume within 24 hours. However, the Ramses exchange building will remain out of service for several days due to the damage caused by the fire. The blaze, which erupted in a facility operated by Telecom Egypt, was contained on Monday according to state television. However, it caused significant disruptions to telephone and internet services across the capital. Minister Talaat noted that he cut short an overseas visit to return to Cairo and personally follow up on the incident, assess the extent of the damage, and oversee measures being taken to ensure continuity of telecom services and minimize the impact of the fire. In a related development, the Egyptian Stock Exchange announced the suspension of trading on Tuesday due to communication difficulties affecting the efficiency of the trading system. In a statement, the stock exchange said: "In light of recent developments, and despite continuous efforts from all parties to create an environment suitable for trading and enable brokerage firms to communicate effectively with all components of the trading ecosystem, the Egyptian Stock Exchange has decided to suspend trading today, Tuesday, July 8, 2025, in the interest of all stakeholders and to ensure fair opportunities for all participants." — (Agencies) اطرح سؤالك على ChatGPT
