Today: Egypt’s first SPAC “Catalyst Partners” is moving ahead with a new acquisition as it reports early profit since launch. We also have the latest financial results from Sodic, Gogreen for Agricultural Investment, Ceramic & Porcelain, and Atlas For Investment and Food Industries.

🔔 EGX30 ended +0.3% by market close at 52,383 points, the EGX70 rose 0.4% to 14,023 points, and the EGX100 rose 0.5% to reach 19,626 points.

💸 The number of transactions reached 198,834 spread across 2,199,318,768 stocks leading to a turnover of EGP 8.808 billion.

🏷️ International investors were the only net sellers.

📈 Top gainers for the market as a whole included Alexandria New Medical Center (+20.0%), October Pharma (+10.6%), and Cleopatra Hospital Company (+9.4%).

📉 Top losers for the market included Gourmet Egypt (-5.8%), Tycoon Holding (-4.9%), and Remco for Touristic Villages Construction (-4.9%).

⬆️ Top gainers for EGX30 included Raya Holding (+8.9%), Heliopolis Housing (+4.9%), and Qalaa Holdings (+3.0%).

⬇️ Top losers included E-finance (-1.7%), Kima (-1.6%), and Misr Cement (-1.3%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,921 per gram, up 0.04% day-on-day and up 0.5% month-on-month.

💲 The USD reached EGP 52.97 at the National Bank of Egypt.

Egypt’s first special purpose acquisition company (SPAC) “Catalyst Partners Middle East” (CPME) is moving ahead with plans to fully acquire EIH Consulting, a precious metals-focused investment and advisory firm, along with its subsidiaries, according to a disclosure to the EGX yesterday. 

Refresher: what is a SPAC?

SPACs, often called “blank check companies,” are publicly traded shell firms set up to acquire or merge with privately held businesses, giving those companies a route to list on the stock market. They raise funds through an IPO, place the proceeds in a trust account, and usually have 18 to 24 months to complete a deal. 

What CPME is building:

Rather than a single transaction story, CPME is gradually assembling a broader acquisition platform. Since launch, it has executed a share-swap acquisition involving Catalyst Partners Holding and fintech platform Qardy, in a transaction valued at EGP 2.8 billion, and has previously indicated an ambition to build a portfolio of up to ten acquisitions under its EGP 14 billion capital base.

The EIH move fits into that trajectory, but also nudges it in a slightly different direction.

From financial services to gold-linked infrastructure:

At the center of EIH’s appeal is Mngm, a mobile platform focused on gold and silver investment. If the transaction proceeds, CPME would extend its reach beyond fintech into retail access to commodities.

That shift is less about product expansion and more about exposure: moving closer to instruments that behave like inflation hedges in everyday investor behavior.

Valuation process underway:

CPME – which has already received initial board approval to pursue a controlling stake of more than 50% in the company – has appointed Gravition Financial Advisory to carry out a fair value assessment of the transaction. The final structure of the potential transaction has not yet been disclosed.

Early financial results show a positive start: 

In parallel, consolidated financial statements for CPME released yesterday show early-stage profitability since launch. For the period from October 2024 through December 2025, the company reported a net consolidated profit after tax of EGP 18.92 million, with net revenues of around EGP 57.769 million after costs.

The numbers mark a solid early financial footing as the company continues to execute its acquisition-led strategy.

📉 Real estate company Sodic (OCDI) saw its net profit plunge 68.6% YoY to EGP 299.26 million in Q1 2026, according to its latest financial results. Revenues fell to EGP 2.13 billion from EGP 2.75 billion in the same period last year. However, the company has seen a good start to 2026 in terms of share value, with its share price rising 22.1% since the beginning of the year. This brings its gains over the past 12 months to 24.6%

🌱 Gogreen for Agricultural Investment (GGRN) saw a 2.5% YoY drop in 2025 net profit to EGP 55.95 million, according to its latest financial results. This came despite revenues rising to EGP 101.57 million from EGP 99.68 million a year earlier. The company’s share price is down 1.2% since the beginning of 2026. However, its share value is up 91.3% compared to levels recorded 12 months ago,

🏺Ceramic & Porcelain (PRCL) reported that its losses widened 39.8% YoY to EGP 92.18 million over the first nine months of its current fiscal year, according to a disclosure to the EGX. Revenues declined to EGP 84.27 million from EGP 90.72 million in the same period last year. The company has seen a good start to 2026 in terms of share value, with its share price rising 19.3% since the beginning of the year. This brings its gains over the past 12 months to 79.4%

📉 The losses of Atlas For Investment and Food Industries (AIFI) rose 19.7% YoY to EGP 7.28 million in 2025, according to its latest financial results. This came despite revenues surging to EGP 91.17 million from EGP 40.16 million, impacted mainly by delays in a key real estate project permit, partially offset by subsidiaries’ performance. The company has seen a tough start to the year in terms of share value, with its price down 13.5% since the beginning of 2026.  However, its share price is still up 95.9% compared to 12 months ago.

Today:

Samad Misr - distribution date for EGP 3.83 per share. The record date was April 27.

Telecom Egypt - distribution date for EGP 1.5 per share. The record date was April 27.

Egyptian International Pharmaceuticals - distribution date for EGP 1.5 per share. The record date was April 27.

Egyptian Financial and Industrial - distribution date for EGP 1 per share. The record date was April 27.

Zahraa Maadi Investment and Development - distribution date for EGP 0.10 per share. The record date was April 27.

⚡ Egypt is pushing a major EGP 12 billion transmission line project to connect Gulf of Suez wind farms to the national grid, aiming to unlock renewable capacity and support its goal of 45% clean energy by 2035, a government official told Asharq yesterday on condition of anonymity. The 390 km, 500 kV line strengthens Egypt’s ambition to become a regional electricity hub linked to Europe and neighboring countries. 

📉 Unemployment in Egypt slipped to 6.3% in 2025, with jobs expanding in manufacturing and services, but construction shedding workers amid slower state-driven projects. However, deep structural gaps remain — especially youth and female unemployment, which is still disproportionately high despite overall improvement. 

🏭 China’s Shandong Linglong is eyeing a USD 2 billion tire complex in Borg El Arab, with most production targeted for export to the US and GCC markets. The project, under a free zone model, would boost industrial exports and deepen Egypt’s role in global automotive supply chains. 

🏠 The government has extended Sunday remote work rules until end-May for both public and private sectors as part of ongoing electricity demand management. The move follows broader energy balancing measures, even as commercial restrictions were eased to support retail activity.