Latest news with #valU
Zawya
3 days ago
- Business
- Zawya
Egypt: EFG Hermes completes advisory on Vaiu's EGX listing
Arab Finance: EFG Hermes, an EFG Holding company, concluded advisory on the listing of U Consume Finance (valU) on the Egyptian Exchange (EGX) under the ticker valu, according to a press release. The listing was implemented through an innovative in-kind dividend distribution, where EFG Holding distributed 20.488% of Valu's share capital to its shareholders, as of the record date, June 12th, 2025. On its debut, Amazon acquired a 3.95% direct stake in valU for a price per share of EGP 6.041 and the share price witnessed a positive performance, closing at EGP 7.4 per share. EFG Hermes acted as the sole financial advisor for EFG Holding and valU in both the EGX listing and Amazon's stake acquisition. Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented: 'We believe this landmark transaction shall serve as a positive catalyst for the revival of activity on the stock exchange.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
Egypt: valU sees $10mln block trading deal
Arab Finance: U Consume Finance (valU) saw a block trading deal valued at EGP 502.833 million, the Egyptian Exchange (EGX) announced on June 23 rd. The transaction was executed on 83.236 million shares of the company. It is worth noting that trading on valU's shares commenced today. Amazon recently decided to acquire a direct equity stake in Valu, upon an option agreement with EFG Holding that was signed in May 2022. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
valU debuts on EGX to reshape Egypt's fintech landscape
Arab Finance: EFG Holding's subsidiary U Consume Finance (valU) commenced floating its shares on the Egyptian Exchange (EGX) under the ticker valu, according to a press release. valU's debut on EGX aligns with its objectives to boost Egypt's fintech landscape and EFG Holding's commitment to innovation, financial inclusion, and sustainable growth. The listing was implemented through an innovative in-kind dividend distribution, where EFG Holding distributed 20.488% of Valu's share capital to its shareholders, as of the record date, June 12th, 2025. The transaction was funded by EGP 335.322 million from EFG Holding's distributable retained earnings. Shareholders received one valU share for every 3.3273 EFG Holding shares held, with fractional ownership being rounded in favor of minorities. Following its debut, Amazon acquired a 3.95% direct shareholding in valU for a price per share of EGP 6.041. Meanwhile, EFG Finance Holding, a unit of EFG Holding, will hold a 67% shareholding of valU post trading and sale of shares to Amazon. Mohamed Farid, Executive Chairman of the Financial Regulatory Authority (FRA), stated: 'The procedures followed for registering and trading the shares of Valu represent a modern and innovative legal means to benefit from the distribution of dividends of listed companies and their affiliated activities.' 'Valu is the first consumer finance company listed and traded on the Egyptian Exchange. This step enhances the integration of non-banking financial activities under the authority's supervision,' Farid added. He noted: 'It opens the door to expanding the base of listed companies in this promising sector through stock exchanges. This, in turn, contributes to attracting new investors and adding new securities, thereby enhancing liquidity and trading levels.' For his part, Karim Awad, Group CEO of EFG Holding, remarked, 'Valu has built a loyal customer base and a resilient, scalable platform for sustainable growth. Its success is a testament to the strength of our ecosystem and our ability to incubate and scale market-leading businesses.' valU and EFG Holding mandated EFG Hermes Promoting and Underwriting to act as the sole financial advisor for the transaction. Zulficar & Partners served as legal counsel, while Gibson, Dunn & Crutcher LLP acted as legal counsel to EFG Holding in connection with the international aspects of the Transaction. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
20-06-2025
- Business
- Zawya
Egypt: U Consumer Finance's shares to start trading on EGX as of June 23rd
Arab Finance: Trading on the shares of U Consume Finance (valU) on the Egyptian Exchange (EGX) will start as of Monday, June 23 rd, 2025, according to a bourse disclosure. The opening price will be based on the execution price of the share distribution transaction stipulated in the disclosure report for trading purposes, valued at EGP 0.777. The shares will be added to the list of securities permitted for trading with a price increment of EGP 0.001. Meanwhile, the price limits on valU's shares during the first trading session shall be within the range of the nominal value of EGP 0.10 as minimum and the fair value of EGP 7.40 at maximum, as stipulated in the disclosure report. The buy-now, pay-later (BNPL) platform temporarily listed its shares on EGX last May after obtaining EFG Holding's approval for the transaction. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
12-06-2025
- Business
- Zawya
Egypt: FRA greenlights EFG Holding's new listing mechanism via U Consumer Finance
Arab Finance: The Financial Regulatory Authority (FRA) has approved the publication of the disclosure report of U Consumer Finance, formerly known as valU and a subsidiary of EFG Holding, for the trading of its shares on the Egyptian Exchange (EGX), the FRA stated on June 10th. The step marks a new legal mechanism proposed by EFG Holding and approved by the FRA, enabling the listing and trading of company shares without the need for a public or private offering or a capital increase. Aِccordingly, EFG Holding will benefit from this first-of-its-kind move in the Egyptian market to use a dividend distribution mechanism as a means to expand the ownership base and listing for trading purposes. The method converts indirect ownership into direct ownership, broadens shareholder participation, and introduces a more flexible approach to market entry for companies operating in the non-banking financial services sector. The company has fulfilled the necessary listing requirements and prepared a report that includes all legal, financial, and technical details of the process. U Consumer Finance will become the first consumer finance company to be listed on the EGX, reinforcing the FRA's strategy to integrate non-banking financial institutions into capital markets. The move aims to expand the base of listed companies in the sector and promote the benefits of listing, including enhanced transparency, governance, funding options, and compliance with sustainability standards. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
