Today: We have important updates from Alexandria Containers, which approved the sale of its entire stake in Egypt Marine Ports Company, and from Qalaa Holdings, which outlined a plan to potentially raise its stake in Taqa Arabia to majority ownership, among other corporate news. Let’s jump in.

🔔 EGX30 ended +0.6% by market close at 52,306 points, the EGX70 rose 0.3% to 15,447 points, and the EGX100 increased 0.3% to reach 21,231 points.

💸 The number of transactions reached 224,226 spread across 3,720,984,939 stocks leading to a turnover of EGP 11.446 billion.

🏷️International investors were the only net sellers. 

📈 Top gainers for the market as a whole included Tycoon Holding (+20.0%), Mansourah Poultry (+12.4%), South Valley Cement (+8.3%).

📉 Top losers for the market included Arab Valves Company (-7.5%), Misr Oils & Soap (-5.9%), and Subscription Rights Of Aspire Capital (-5.8%).

⬆️ The only gainer for EGX30 was Eastern Company (+4.4%), ADIB (+3.3%), and Emaar Misr (+2.8%).

⬇️ Top losers for EGX30 included Qalaa Holdings (-4.6%), Egypt Aluminum (-4.5%), and Orascom Investment Holding (-2.8%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,228 per gram, down 1.7% day-on-day and down 8.4% month-on-month.

💲 The USD reached EGP 50.37 at the National Bank of Egypt.

Alexandria Container and Cargo Handling (ALCN) has approved the sale of its entire 6.01% stake in Egypt Marine Ports Company — equivalent to around 182.7 million shares — after shareholders endorsed a fair value study that priced the stake at USD 0.111 per share. The transaction implies a total value of approximately USD 20.28 million, or about EGP 1.05 billion (at a conversion rate of EGP 51.77 to the USD).

The buyer is the Holding Company for Maritime and Land Transport (HCMLT), following a memorandum of understanding signed between the two parties in March.

Government shareholders may block AD Ports bid:

HCMLT is also emerging as a key player in the ongoing battle for control of ALCN.

According to reports by EnterpriseAM and Al Borsa, both HCMLT — which owns a 35.4% stake in the container operator — and the Alexandria Port Authority, which holds roughly 7.63%, are planning to reject the mandatory tender offer submitted by AD Ports through its subsidiary Black Caspian.

Together, the two government-linked shareholders control around 43% of ALCN, meaning their refusal to tender shares could significantly complicate AD Ports' efforts to secure its targeted stake of up to 90%.

Refresher:

Black Caspian raised the stakes in its pursuit of ALCN last week, submitting a revised offer of EGP 27.47 per share as it seeks to secure a controlling stake in the port operator. The proposal represents a 19.5% increase over the EGP 22.99-per-share bid launched late last year.

ALCN shares closed yesterday at EGP 28.85 (around 4% above Black Caspian's offer price), leaving the stock up 17.9% since the start of 2026 and 31.1% higher than levels recorded a year ago.

Qalaa Holdings (CCAP) has outlined a roadmap that could lift its current 6.2% stake in Taqa Arabia (TAQA) to above 55%, potentially giving it majority control of Egypt's largest private energy distributor, according to a statement to the EGX responding to shareholder inquiries.

The details:

The plan relies on three parallel acquisition channels. The first involves exercising a contractual right to repurchase the 20% stake currently held by the National Service Projects Organisation (NSPO), with execution targeted by June 2027.

The second stems from a settlement agreement with four Egyptian banks — Bank of Egypt, Banque du Caire, Arab African International Bank, and Al Ahli Kuwait Bank — through which Qalaa would reacquire a combined 17.68% stake by September 2029.

The third consists of bilateral agreements with other shareholders that could add a further 11.45%, subject to prevailing market regulations at the time of execution.

Downstream expansion continues:

The disclosure comes as Taqa Arabia continues to deepen its presence in Egypt's downstream energy sector. As part of Egypt's broader privatization programme, Taqa recently acquired a 10% stake in Quick Fuel, which manages 172 Wataneya-branded fuel stations owned by NSPO, with an option to acquire an additional 15% upon a future EGX listing.

First quarter results:

Taqa recorded a 59% year-on-year increase in net profit during Q1 2026, with earnings rising to EGP 261.82 million from EGP 164.91 million a year earlier. Revenues climbed to EGP 7.12 billion during the quarter, up from EGP 5.37 billion in Q1 2025.

Recent stock performance:

TAQA shares closed yesterday at EGP 15.6, down 1.4% on the session, while remaining up 7.7% since the start of 2026 and 30.5% over the past year. CCAP fell 4.6% yesterday but remains 33.1% higher year-to-date and 87.7% above its level a year ago.

📉 International Agricultural Products (IFAP) reported a 24.65% year-on-year decline in net profit to EGP 284.05 million for the first nine months of the fiscal year ending March, according to an EGX disclosure. Meanwhile, revenues rose to EGP 1.953 billion compared with EGP 1.482 billion in the same period the year before. It’s worth noting that The company’s share price is up a modest 3.5% since the beginning of 2026, and is up 43% compared to levels recorded 12 months ago.

📝 Prime Holding (PRMH) witnessed notable ownership reshuffling following block trades on 14 June, as shareholder Mohamed Fawaz sold his entire 9.19% stake, totaling 32.15 million shares, for EGP 93.24 million at an average price of EGP 2.90 per share. In parallel, Gold Era For Gold Trading acquired 52.47 million shares worth EGP 151.29 million at an average price of EGP 2.883 per share, raising its stake and related parties to 14.99%. The company’s share value is up 74.2% since the beginning of the year despite dropping 4.5% by the end of yesterday’s session. Compared to levels recorded a year ago, the company’s stock is up 171.6%.

🧪 State-owned petrochemicals producer Elab has secured a temporary listing on the EGX's main market ahead of a potential offering of 2.1 billion shares at a par value of USD 0.1 each, giving the company an issued capital of USD 210 million. The move comes as Egypt pushes ahead with its state IPO program, while Elab simultaneously expands its production capacity by roughly one-third through a more than USD 20 million investment slated for completion in the second half of the year, according to Al Mal.

Dates to keep an eye out for

June 21:

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

Misr Beni Suef Cement - distribution date for EGP 10 per share. The record date was June 15.

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.

💵 Money sent home by Egyptians working abroad reached a record USD 39.2 billion during the July 2025-April 2026 period, marking a 33.2% year-on-year increase, according to Central Bank data. In April alone, remittances climbed 44% to USD 4.3 billion, reinforcing their role as one of Egypt's most important sources of foreign currency.

⚡ The EU is providing Egypt with EUR 690 million in financing to upgrade its electricity grid and integrate 22 GW of new renewable energy capacity by 2030, supporting the country's goal of generating 42% of its electricity from renewables by the end of the decade. The package includes a EUR 600 million EIB loan and EUR 90 million in EU grants to fund new substations and high-voltage transmission lines.

🏅 Afreximbank intends to launch construction of a gold refinery in Egypt by the end of 2026, with investments ranging between USD 50 million and USD 100 million and production targeted for 2027 or 2028, Asharq reported. The refinery forms part of a wider initiative with the Central Bank of Egypt to establish an African gold bank and trading hub aimed at strengthening local refining capacity and supporting intra-African gold trade.

🏗️ Kuwait's UrbanLanes is in final negotiations to acquire a 430-feddan site in Ras El Hekma for around EGP 7 billion to develop a tourism project with expected investments of up to EGP 80 billion, Bloomberg reported. The planned development adds to the growing wave of Gulf-backed investments reshaping Egypt's North Coast following the landmark USD 35 billion Ras El Hekma deal.