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

Today: New projects by Elsewedy, more IPOs, and capital increase updates from Macro Capital and Abu Dhabi Islamic bank

🔔 EGX30 ended +0.31% by market close at 41,731 points, the EGX70 rose 0.63% to 13,160 points, and the EGX100 rose 0.50%  to reach 17,413 points.

💸 The number of transactions reached 128,850 spread across 2,231,969,270 stocks leading to a turnover of EGP 5.1 billion.

🏷️ Local investors were the only net buyers.

📈Top gainers across the broader market Catalyst Partners Middle East (+ 20%), South Cairo & Giza Mills & Bakeries (+11.31%), and Arab Real Estate Investment C0 (+ 9.56%).

📉 Top losers: Subscription Rights Of Copper For Commercial Investment (-6.20%,)Gharbia Islamic Housing Development (-4.89%), then Mohandes Insurance (-4.24%.)

⬆️ Top gainers for EGX30 included Misr Cement (+3.4%), Arabian Cement (+3.1%), and Raya Holding (+1.5%).

⬇️ Top losers included: Orascom Construction (-1.6%), Rameda (-1.2%), and Oriental Weavers (-1.2%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,774 per gram, up 0.03% day-on-day but up 4.39% month-on-month.

💲 The USD reached EGP 47.67 at the National Bank of

⚡Elsewedy Electric (SWDY) is expanding in Greece with two additional 100 MWh battery energy storage projects, following its first project, with operations starting in 1Q 2026 and the remaining two in 2H 2027, Corporate Investment Director Omar Foda told EnterpriseAM. (Read more in our Deeper Look section.)

👀 Catalyst Partners Middle East (CPME) is planning to list its subsidiary Catalyst Partners Holding on the Egyptian Exchange in 2026 while deploying EGP 200 million into AI- and blockchain-focused investments. (Read more in our Deeper Look section.)

🔔The EGX anticipates at least eight new initial public offerings next year, including companies from the healthcare and tourism sectors, according to EGX Chairman Islam Azzam. In an interview with Al Arabiya, he outlined the bourse’s plans to welcome fresh market entrants in 2026, signaling continued activity in the local capital markets.

💸The Financial Regulatory Authority approved Macro Capital (MCRO) to invite existing shareholders to subscribe to the remaining 28.454 million shares at a nominal value of EGP 0.20 each. The second subscription phase will run for two working days from today to 31 December, with any uncovered shares simply left unsubscribed. Previously, the first phase of the capital increase reached 99% coverage, raising EGP 564.51 million. The company’s share value is up 129% since the start of the year.

💰The Financial Regulatory Authority approved Abu Dhabi Islamic Bank – Egypt (ADIB)  to invite existing shareholders to subscribe to the remaining 4.366 million shares at EGP 10 each, plus EGP 0.10 issuance fees. The second subscription phase will run for five working days from 4 to 11 January, with the last day adjusted if it falls on a public holiday. The first phase covered 98.55% of the capital increase, with 295.633 million shares subscribed out of a total 300 million shares. The lender’s shares are up 76% since the start of the year.

📝 Natural Gas and Mining Project - Egypt Gas (EGAS) approved its budget for the coming year, targeting a net profit of EGP 420 million in 2026, up from an expected EGP 305 million for 2025. The company also aims to raise operating revenues to EGP 9.5 billion next year, compared with an anticipated EGP 8.4 billion this year. The company’s shares are up 11% since the start of the year.

December 30:

Wadi Kom Ombo Land Reclamation (WKOL) - dividend distribution date for EGP 7.07 per share. The record date was 25 December.

CIRA Education (CIRA) - dividend distribution date for EGP 0.343 per share. The record date was 25 December.

E-Finance For Digital and Financial Investments (EFIH) - dividend distribution date for EGP 0.174 per share. The record date was 25 December.

December 31:

Suez Canal Company for Technology Settling (SCTS) - dividend distribution date for EGP 1.01 per share. The record date was 28 December.

Abu Qir Fertilizers (ABUK) - dividend distribution date for EGP 1.50 per share. The record date was 21 October.

💵 Egypt’s Ministry of Industry is considering boosting its support initiative for financially troubled factories from EGP one billion to EGP three billion to be disbursed in three phases, according to an official who spoke to Asharq. The program, managed by CI Capital, involves creating a joint investment fund with banks that temporarily take equity stakes of 25–33% in eligible factories, aiming to restructure and restart them. The move is part of broader government efforts to support the industrial sector after recent production cost pressures, amid Egypt’s improving economic growth.

📝Deputy Finance Minister Sherif El Kilany told EnterpriseAM that the Finance Ministry is preparing a comprehensive package of fiscal reforms aimed at addressing long-standing private sector concerns. Key measures include taxing freezone companies selling locally, adjusting personal income tax brackets for inflation, and making the solidarity contribution tax-deductible. The plan also prioritizes small businesses by offering low-interest financing to encourage formalization, while waivers on tax fines will be selective rather than universal.

Elsewedy Electric is planning two new battery energy storage projects in Greece, each with an estimated cost of EUR 30–40 million, following the completion of its first 100 MWh system, Corporate Investment Director Omar Foda told EntepriseAM. The initial project is expected to start operating in the first quarter of 2026, with the second scheduled for the second half of 2027.

The company will hold 100% ownership of all three projects. They qualify for funding from the EU’s Recovery and Resilience Facility, and the first project has already secured financial backing, allowing it to reach financial close earlier this year.

Elsewedy is prioritizing Eastern European markets, which are growing and well-linked to the EU electricity grid, Foda told the news outlet. These regions are seen as less saturated than Western Europe, offering opportunities for expansion in a less competitive environment, he added..

Earlier this year, Elsewedy announced its first major European investment, securing a contract to execute nearly half of Hungary’s largest combined-cycle power plant project, valued at EUR 700 million.

Earlier this month, El Sewedy Electric announced plans to spend USD 400 million to build nine factories in Saudi Arabia, including facilities in Yanbu, Riyadh, and Dammam for cables, copper rods, power transformers, and other electrical products. This comes after the company inaugurated its latest facility in Saudi Arabia last month, a USD 40 million plant dedicated to manufacturing low-, medium-, and high-voltage cable accessories, as well as Fiber Reinforced Polymer (FRP) poles.

In Qatar, El Sewedy revealed plans to invest USD 67 million in factories for copper and aluminum rods and distribution transformers, with production expected to start in 2027

Egypt’s first Catalyst Partners Middle East is set to list its subsidiary Catalyst Partners Holding on the Egyptian Exchange in 2026, aiming to broaden funding sources and strengthen its regional investment footprint, executives told Al Borsa. The company’s share rose 20% again for the second day in a row to become the market’s top gainer again.

AI-driven investments and investor engagement

Chairman Maged Shawky said the group plans to deploy EGP 200 million from its escrow account into AI- and blockchain-focused investments, supporting fintech and digital market initiatives.

Qardy fintech license and B2B focus

CEO Abdelaziz Abdelnabi said subsidiary Qardy will apply for a fintech license next year, following preliminary approval for SME financing. Lending is expected to start early next year, alongside a planned capital increase. Abdelnabi stressed that Catalyst’s activities remain fully B2B, avoiding consumer lending, with AI increasingly central to operations and investment decisions.

Catalyst is targeting a full-service investment banking presence in Saudi Arabia, where it has been active in advisory services for 18 months. Plans include leasing, fund management, and advisory, with operational setup expected by 2026.

Catalyst’s impact fund reached a first close of EGP 450 million, with a second close expected in early 2026, targeting EGP 1 billion. Current investments focus on food and B2C sectors, with multiple exits planned.

Its subsidiary Catalyst Leasing also aims to expand its portfolio to EGP 4 billion by end-2026, focusing on machinery, equipment, production lines, and vehicles, while the factoring arm targets EGP 2 billion, driven by growing demand for flexible financing.

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

Your daily market lens, signing off.