Today: The EGX is moving to deepen derivatives trading with new futures on CIB and TMGH + we have the latest financial results from Heliopolis Housing, news that LVP Pharma increased its stake in Rameda, and news that Qalaa Holdings is advancing its IPO plans. Let's dive in

🔔 EGX30 ended -0.5% by market close at 51,882 points, the EGX70 fell 0.03% to 15,344 points, and the EGX100 dropped 0.2% to reach 21,180 points.

💸 The number of transactions reached 199,594 spread across 3,123,753,092 stocks leading to a turnover of EGP 11.020 billion.

🏷️ Regional investors were the only net sellers. 

📈 Top gainers for the market as a whole included El Shams Housing & Urbanization (+19.3%), Certificates Of Odin Egyptian Equity Investment Fund-KASAB (+7.0%), GPI For Urban Growth (+6.9%).

📉 Top losers for the market included Subscription Rights Of Aspire Capital (-17.3%), U Consumer Finance (-5.3%), and Gulf Canadian Real Estate Investment Co. (-5.0%).

⬆️ Top gainers for EGX30 included Orascom Investment Holding (+3.7%), GB Corp (+3.1%), and Juhayna (+2.7%).

⬇️ Top losers for EGX30 included Raya Holding (-3.5%), E-finance (-2.5%), and Emaar Misr (-2.4%).

Other Important Stats: 

🧈 24K Gold reached EGP  7,364 per gram, almost unchanged day-on-day and down 8.4% month-on-month.

💲 The USD reached EGP 52.1 at the National Bank of Egypt.

The Egyptian Exchange is launching futures contracts on Commercial International Bank “CIB” (COMI) and Talaat Moustafa Group (TMGH) starting June 18, with three- and six-month maturities and a standard lot size of 100 shares, according to the EGX.

The reasoning:

The initiative aims to deepen the derivatives market, improve hedging tools, and enhance overall market efficiency and liquidity.

The move comes against a backdrop of strong concentration in trading activity among a handful of large caps. In May, CIB ( which holds 31.5% of the EGX30 weight) was the most traded stock on the exchange with turnover of EGP 10.4 billion (6.6% of total market value), while TMGH (which holds 11.2% of the EGX30 weight) followed at EGP 9.7 billion (6.3%).

Recent performance of the stocks:

COMI’s share price has risen 25.1% since the beginning of 2026. This makes it up 76.7% compared to levels recorded 12 months ago. Meanwhile, TMGH’s share value has risen 20.3% since the start of the year, making it up 69.3% compared to levels recorded a year ago.

Heliopolis Housing (HELI) reported a weaker start to 2026, with net profit falling 47% year-on-year to EGP 250.6 million in the first quarter, according to its latest financial results.

Revenue also declined during the period, dropping to EGP 422.4 million from EGP 530.8 million a year earlier.

The earnings slowdown comes despite ongoing expansion efforts:

Late last month, Heliopolis Housing secured a EGP 1.5 billion short-term credit facility from Banque du Caire to support expansion projects and strengthen liquidity management. The financing is backed by expected cash flows from partnership agreements with real estate developers and is scheduled to be settled before the end of the current fiscal year.

Separately, the government is studying a plan to transfer several major state-owned companies, including HELI, to the Sovereign Fund of Egypt in an effort to boost returns and attract new partnerships. The plan aims to attract higher-value partnerships and centralize revenues, potentially securing EGP 20 billion annually to help reduce public debt and interest payments.

Recent stock performance:

Despite the weak performance in Q1, the company’s share price has risen 78% since the beginning of 2026. This makes it up 85.2% compared to levels recorded 12 months ago.

💰 LVP Pharma has acquired a larger controlling position in Rameda (RMDA) after Equinox Pharma Holding fully exited its 8.35% stake for about EGP 846.5 million at an average price of EGP 5.07 per share. The transaction raises LVP Pharma’s stake in Rameda from 23.15% to 31.5%, cementing its position as the pharmaceutical firm’s largest shareholder. It’s worth noting that Rameda’s share value has risen 57.1% since the beginning of 2026 after gaining 1.6% by the end of yesterday’s session. This makes it up 53.8% compared to levels recorded a year ago.

📝 Qalaa Holdings (CCAP) plans to launch an IPO for its river ports subsidiary in September or October, followed by three additional listings within a year, according to founder Ahmed Heikal in comments to Asharq. The group is also advancing debt reduction at its refinery arm, which has paid down over USD 400 million in debt, potentially paving the way for future dividend distributions and stronger financial flexibility.

Dates to keep an eye out for

11 June:

First trading day for Korra Energi.

15 June:

Misr Beni Suef Cement - record date for EGP 10 per share. The distribution date is June 18.

24 June:

Abu Qir Fertilizers - distribution date for EGP 1.30  per share. The record date was April 19th.

28 June:

Eastern Company - distribution date for EGP 0.45 per share. The record date was May 20th.

29 June:

Misr Cement - distribution date for EGP 5 per share. The record date was April 22nd.

🌬️ UAE-based Alcazar Energy signed a USD 420 million agreement to operate, upgrade, and manage Egypt’s 580 MW Gabal El Zeit wind farm, according to a Cabinet statement. The deal supports Egypt’s privatization drive while paving the way for efficiency upgrades aimed at maintaining and potentially enhancing the facility’s renewable energy output.

💰 Egypt is preparing a major tax overhaul that would eliminate the long-delayed capital gains tax on EGX-listed shares and replace it with a stamp tax, while introducing new incentives for companies to list on the stock exchange, according to EnterpriseAM. The proposed amendments also include tax breaks for infrastructure projects and holding companies, as the government targets an additional EGP 900 billion in tax revenues during FY 2026/27.

💸 Kuwait has rolled over its USD 2 billion deposit at the Central Bank of Egypt for another year after its maturity in April, Asharq reports, citing a central bank official. The extension provides additional support to Egypt's external position as foreign currency reserves continue to climb, reaching a record USD 53.1 billion in May.

💵 Egypt plans to raise around USD 4 billion through international bond issuances during fiscal year 2026/27 as it works to cover most of its external financing needs, Finance Minister Ahmed Kouchouk said. The government has already secured roughly half of its expected financing requirements through concessional funding and is also considering a new Samurai bond issuance in the coming weeks.