Today: Korra Energi has secured an 80% share of a major power transmission project in the Gulf of Suez + Egytrans Nosco is expanding its logistics footprint with a new EGP 110 million warehouse in Ain Sokhna as it looks to capitalize on Egypt's growing transit trade.

🔔 EGX30 ended +2.3% by market close at 51,994 points, the EGX70 rose 2.7% to 15,396 points, and the EGX100 increased 2.7% to reach 21,179 points.

💸 The number of transactions reached 215,155 spread across 2,866,794,795 stocks leading to a turnover of EGP 10.309 billion.

🏷️Regional investors were the only net sellers. 

📈 Top gainers for the market as a whole included Egyptian Arabian (Themar) Comp. For Securities & Bonds (+20.0%), Misr Oils & Soap (+20.0%), Lotus For Agricultural Investments And Development (+11.8%).

📉 Top losers for the market included Middle & West Delta Flour Mills (-6.0%), Subscription Rights Of Aspire Capital (-5.5%), and Abu Qir Fertilizers (-4.9%).

⬆️ The only gainer for EGX30 was Palm Hills Developments (+8.3%), Emaar Misr (+7.1%), and Orascom Development (+5.2%).

⬇️ Top losers for EGX30 included Abu Qir Fertilizers (-4.9%), Kima (-3.1%), and AMOC (-0.6%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,350 per gram, up 2.6% day-on-day but down 6.8% month-on-month.

💲 The USD reached EGP 51.07 at the National Bank of Egypt.

Korra Energi (KORA) has secured an estimated EGP 2.4 billion share of a major electricity transmission project linking Gulf of Suez wind farms to Egypt's national grid, CEO Ayman Korra told Al Borsa.

The work was awarded through a consortium with Hideleco and covers two lots spanning approximately 97 kilometers of 500 kV transmission lines. The awarded contracts carry a combined value of EGP 1.66 billion and USD 29 million, with Korra expected to execute roughly 80% of the consortium's scope.

Part of one of Egypt's largest grid projects:

The contracts form part of a 350-kilometer transmission corridor being developed by the Egyptian Electricity Transmission Company to connect Gulf of Suez wind generation to the Hawamdeya substation in Giza. The infrastructure is designed to integrate more than 2 gigawatts of renewable energy capacity into the national grid.

Total investment in the broader project is estimated at EGP 12-14 billion, making it one of the largest electricity transmission projects currently under development in Egypt.

Boost to backlog:

Korra described the award as an unplanned addition to the company's portfolio for the year, providing a meaningful boost to its existing backlog. Financing for the project will be secured through credit facilities from two local banks.

Stock performance:

Korra, which began trading on the EGX on Thursday, saw its share price rise 19.5% in its first session and climbed a further 1.4% by yesterday’s market close to reach EGP 3.6.

Egytrans Nosco (ETRS) is accelerating its logistics expansion with a 17,000-square-meter warehouse in Ain Sokhna due for completion this year at an investment cost of EGP 110 million, as the company seeks to capitalize on Egypt's rapidly growing transit trade, Managing Director Abeer Lahita told Hapi.

Egypt's transit trade volumes rose 35% year-on-year in the first quarter of 2026, creating new opportunities for logistics operators as the country works to strengthen its position as a regional trade and transport hub.

Lahita said the company is focusing on integrated logistics solutions, including cargo consolidation services, multimodal transport linking sea, road, and rail networks, and digital tools aimed at reducing customs clearance times.

Expanding its Ain Sokhna footprint:

The latest investment builds on the company's growing presence in Ain Sokhna. Earlier this year, Egytrans — which merged with National Transport and Overseas Services Company (Nosco) through the Egyptian Exchange's first-ever reverse merger — together with Nafith International secured a 25-year concession to modernize truck operations at Ain Sokhna Port through investments exceeding EGP 1 billion.

The project is expected to introduce digital yard management systems that could reduce waiting times by more than 40%, lower trucking costs by up to 30%, and increase handling capacity by as much as 60% within two years.

Saudi expansion underway:

Beyond Egypt, the company is expanding its regional footprint through Egytrans Arabia in Saudi Arabia while deepening existing partnerships with Nafith International and Rawabet Investment in the kingdom.

Lahita said Egypt's recent transit trade momentum presents an opportunity to build lasting shipping routes through improvements in customs procedures and stronger integration between ro-ro services and broader logistics networks, potentially strengthening the country's position in regional trade flows.

Recent stock performance:

The company's share price has risen 21.5% since the beginning of 2026 after gaining 9.9% by the end of yesterday’s session. This makes it up 55.2% compared to levels recorded 12 months ago.

Dates to keep an eye out for

Today:

Misr Beni Suef Cement - record date for EGP 10 per share. The distribution date is June 21 (revised from June 18).

June 21:

Launch of futures contracts for CIB and Talaat Moustafa Group (revised from June 18).

The United Bank - record date for EGP 0.75 per share. The distribution date is June 24.

24 June:

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

National Housing for Professional Syndicates - record date for EGP 1.75 per share. The distribution date is June 29.

EFG Holding - record date for EGP 0.278 per share. The distribution date is June 29.

Kafr El Zayat Pesticides - record date for 0.2 bonus shares per original share. The distribution date is 25 June.

Suez Canal Company for Technology Settling - record date for EGP 13 per share. The distribution date is June 29.

E-Finance - record date for EGP 0.119 per share. The distribution date is June 29.

Al Shams Housing and Urbanization - record date for EGP 0.050 per share. The distribution date is June 29.

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.

🛢️ Egypt has reached an agreement with QatarEnergy and ExxonMobil to route Cypriot gas from the Pegasus and Glaucus fields through its existing infrastructure for processing, liquefaction, and re-export, according to a government official speaking to Asharq. The gas will be transported via subsea pipelines, processed in Egyptian facilities, and liquefied at Idku and Damietta, with Egypt earning transit and processing fees. The deal reinforces Egypt’s strategy to position itself as a regional East Med energy hub by leveraging spare capacity in its pipeline and LNG infrastructure.

📝 The Egyptian government is introducing a temporary eight-month tax card to accelerate company formation and licensing, according to a draft law reviewed by EnterpriseAM. The measure aims to simplify business entry and formalize parts of the informal economy, in line with World Bank and IMF-linked reform conditions tied to external financing.