Today: Egypt Aluminum is seeking financing to build Egypt’s first aluminum foil plant and reduce import dependence, while Domty expects its newly spun-off dairy and food business to list on the EGX in July. Let's jump in.

🔔 EGX30 ended +1.1% by market close at 52,621 points, the EGX70 rose 0.4% to 15,543 points, and the EGX100 increased 0.4% to reach 21,354 points.

💸 The number of transactions reached 206,416 spread across 2,847,276,348 stocks leading to a turnover of EGP 12.096 billion.

🏷️International investors were the only net buyers. 

📈 Top gainers for the market as a whole included Tycoon Holding (+20.0%), Rowad Tourism (+20.0), Egyptian Arabian (Themar) Comp. For Securities&Bonds Brok. EAC (+16.0%).

📉 Top losers for the market included Egyptians Real Estate Fund Certificates (-5.6%), El Shams Housing & Urbanization (-4.4%), and Arab Valves Company (-4.2%).

⬆️ Top gainers for EGX30 were Raya Holding (+4.1%), CIB (+2.7%), and Palm Hills Developments (+2.5%).

⬇️ Top losers for EGX30 included ADIB (-2.1%), Qalaa Holdings (-1.6%), and EFG Holding (-1.4%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,112 per gram, down 1.1% day-on-day and down 9.4% month-on-month.

💲 The USD reached EGP 49.87 at the National Bank of Egypt.

State-owned Egypt Aluminium (EGAL) – which owns the largest aluminum smelter in the Arab world – is in talks to secure a EGP 5 billion (USD 100 million) loan from a syndicate of Egyptian and Gulf banks to fund the construction of Egypt's first aluminum foil manufacturing plant, according to two sources familiar with the matter who spoke with Asharq on condition of anonymity.

Banking on the Ahly:

National Bank of Egypt is leading the arrangement and management of the dollar-denominated facility, one of the sources said, with both expecting a final financing agreement to be reached during the fourth quarter of this year. The financing push comes as the company moves into execution mode on the project, having already selected a German firm's bid to design and build the plant — CEO Mahmoud Abdel-Aleem Agour previously told the news outlet.

Sizing up the project:

The plant's first phase targets annual production of 25,000 tons of aluminum foil, carrying an estimated investment of USD 90 million. Egypt Aluminium has laid out plans for subsequent expansions that would push the project's total investment to roughly USD 135 million. Agour noted in his earlier remarks that the company is weighing several financing offers to cover the first phase, despite having the balance-sheet capacity to self-fund it if needed. The EGX-listed company has already earmarked EGP 1.4 billion (about USD 27 million) within its 2025-2026 investment budget for the project's initial phase, per a company disclosure.

A gap in the market:

The rationale is straightforward: Egypt currently has no domestic aluminum foil production whatsoever, forcing the country to import the material at a cost of USD 140 million annually. Foil is a staple input for food, pharmaceutical, and industrial packaging — making it a product the domestic market relies on importing almost entirely.

Profit climbs, backed by a self-funded budget:

The financing talks come as EGAL's underlying business continues to strengthen. The company posted a 6% year-on-year increase in net profit to EGP 10.44 billion for the first nine months of its current fiscal year (July 2025–March 2026), with revenues rising to EGP 36.73 billion from EGP 32.06 billion over the same period last year. EGAL attributed the gains to dynamic pricing, tighter cost control, more efficient raw material sourcing, and a sharper export focus on high-demand markets. In April, the company approved its adjusted budget for FY2026-2027, targeting net profit of EGP 11.16 billion and revenues of EGP 48.22 billion, alongside an EGP 3.6 billion investment budget that is fully self-financed.

Recent stock performance:

The company has seen a good start to the year, with its share price gaining 24.3% since the beginning of 2026. Compared to levels recorded a year ago, the stock is up 88.9%.

Egyptian food manufacturer Domty (DOMT) expects the newly spun-off entity housing its dairy and food production business to list on the Egyptian Exchange in July, once registration formalities are wrapped up, CEO Mohamed El-Damaty told Asharq.

A new entity takes shape:

El-Damaty said the new company — operating under the name Dairy Products Euro Arabian for Food Industries — has already been registered. Once the split is finalized, the original parent company will narrow its focus exclusively to the bakery business. Domty shareholders approved the company's division back in December, paving the way for a new dairy and food-focused entity with authorized capital of EGP 2 billion and issued and paid-in capital of EGP 438 million. Per disclosures filed with the Egyptian Exchange, shareholders of the parent company will retain identical ownership stakes and share counts across both resulting entities once the split takes effect.

An almost sevenfold jump in Q1 profit:

The spin-off comes against the backdrop of a sharply improved earnings picture. Domty posted net profit of EGP 72.2 million in the first quarter, up 581.5% year-on-year, as sales momentum continued building. Revenue for the quarter climbed to EGP 2.56 billion, up from EGP 2.25 billion in the same period last year.

Exports hold steady despite regional turmoil:

On the company's broader operations — particularly the foreign sales it's counting on to boost hard-currency revenue — El-Damaty said Domty is targeting USD 30 million in exports for 2026, up 36% from USD 22 million in 2025. He added that exports climbed 20% year-on-year in the first half of this year to roughly USD 13 million, and dismissed concerns that the Iran war would weigh on performance, saying the company's export growth has continued unaffected.

Recent stock performance:

The company’s shares jumped 4.7% in the most recent session, though the stock remains down 2.6% since the start of the year. Compared to levels recorded 12 months ago, the stock is up 33.8%.

Dates to keep an eye out for

Today:

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.

💵 The dollar slipped below the EGP 50 mark in Egyptian banks on Wednesday for the first time since March. A government source told EnterpriseAM that the move was driven by a record USD 1.1 billion in foreign portfolio inflows recorded the previous day. The Egyptian pound had gained roughly 4% against the dollar since Friday 12 June, making it the world's best-performing currency over the period, according to Bloomberg. Experts who spoke to EnterpriseAM, including banking expert Shaimaa Wagieh and London-based economist Ali Metwally, said the move reflects improving market confidence and stronger foreign currency inflows, while cautioning that it does not yet signal a return to pre-war exchange rate levels below EGP 48.

✈️ Egypt expects to welcome a record 20 million tourists in 2026 despite Iran-war-related disruptions, up from 19 million in 2025, Al Arabiya quotes Tourism Minister Sherif Fathy as saying. Fathy noted that Egypt saw 7.5 million arrivals and USD 6.8 billion in revenue in just the first five months of the year. The government is bracing for a summer slowdown tied to higher jet fuel costs from Strait of Hormuz disruptions, but expect a rapid winter recovery if the recent US-Iran peace deal holds, as Egypt pushes toward a longer-term goal of 30 million annual visitors by 2030.