🔔 Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: Dice inked a manufacturing JV with Italian partners and Palm Hills wrapped up a EGP 2.0 bn securitization issuance, while EBank finalized a EGP 3.8 bn exit from tourism assets; meanwhile, Memphis Pharma is exploring new investment options and Gourmet’s IPO closed 55.8x oversubscribed ahead of next week's trading.

🔔 EGX30 ended +1.33% by market close at 49,631 points, the EGX70 rose 0.61% to 12,788 points, and the EGX100 rose 0.73%  to reach 17,681 points

💸 The number of transactions reached 168,561 spread across 2,956,923,947 stocks leading to a turnover of EGP 8.8 billion.

🏷️ Internationalinvestors were the only net buyers.

📈Top gainers across the broader market Egypt for Poultry (+19.95%), Gogreen for Agricultural Investment (+10.41%), El-Nile Co. For Pharmaceuticals And Chemical Industries (+8.12%)

📉 Top losers: Misr Oils & Soap (-6.62%), Engineering Industries (-4.04%), Taaleem Management Services (-3.46%.)

⬆️ Top gainers for EGX30 included Ibnsina Pharma (+7.2%), Kima (+5.0%), and Juhayna (+3.3%).

⬇️ Top losers included: Palm Hills Developments (-2.1%), Abu Qir Fertilizers (-1.7%), and Heliopolis Housing (-1.4%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,532 per gram, down 1.80% day-on-day and up 10.36% month-on-month.

💲 The USD reached EGP 46.89 at the National Bank of Egypt.

👕Dice (DSCW) has announced a joint venture with two Italian firms to establish a new facility for producing ready-made clothing. This partnership aligns with the strategy laid out by the founding family after reacquiring a majority stake in 2023, which focuses on expanding exports and entering new regional markets.

💰Real estate developer Palm Hills (PHDC) has successfully wrapped up a securitized bond offering worth EGP 2.0 billion. This marks the inaugural issuance under their recently approved EGP 30 billion securitization framework. The offering was split into four tranches with maturity periods spanning from 13 to 84 months and credit ratings ranging from AA+ to A

🤝Export Development Bank of Egypt “EBank” (EXPA) has completed the sale of its tourism assets for EGP 3.8 billion and confirmed receipt of the full amount, per a disclosure to the stock exchange. The divestment was carried out via its subsidiaries, Egypt Capital Holding and El Masry Real Estate Investments, which fully sold off their shares in both Egyptian Tourism Development and Tourism Investments in Sahl Hasheesh

💊 Memphis Pharmaceuticals (MPCI) is currently weighing offers to divest a 2,427 sqm land plot and invest EGP 288 million into new ampoule and ointment production lines. Management emphasized in a filing to the EGX that these initiatives remain under preliminary review and have not yet been finalized.

In IPO news:

🔔The public offering of Gourmet Egypt (GOUR) saw massive demand, closing with a coverage ratio of 55.8 times, with the final share price set at EGP 6.9 following a successful private placement. The retailer is selling a 47.6% stake to raise approximately EGP 1.3 billion, and shares are scheduled to begin trading on the EGX this coming Monday.

📝The Finance Ministry and the EGX are preparing to launch a secondary market for sovereign sukuk to boost liquidity and returns, while also planning new variable-rate instruments and retail bonds for the first half of 2026, a senior government official told EnterpriseAM. The official added that Egypt intends to return to international debt markets soon to raise USD 2–2.3 billion, having delayed a February issuance to wait for better pricing conditions.

🏨 Egypt is targeting the addition of 20,000 to 30,000 hotel rooms in the North Coast by 2030 to capitalize on a surge in visitor numbers, a government official told Asharq. This expansion comes after the country welcomed 19 million tourists last year—generating nearly USD 24 billion in revenue—and is being supported by state-backed financing initiatives to fast-track development in the area. 

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.