Today: We have the latest financial results from EFG Holding, MM Group, Amer Group, and other EGX players. We also have IPO news from Korra Energi and Copad Pharma. Let’s jump in.

🔔 EGX30 ended -1.6% by market close at 51,936 points, the EGX70 fell 2.4% to 14,421 points, and the EGX100 dropped 2.3% to reach 20,103 points.

💸 The number of transactions reached 200,659 spread across 2,239,109,122 stocks leading to a turnover of EGP 9.347 billion.

🏷️ Local investors were the only net buyers. 

📈 Top gainers for the market as a whole included Misr Hotels (+20.0%), North Cairo Mills (+8.9%), Arab Cotton Ginning (+7.2%).

📉 Top losers for the market included Misr Duty Free Shops (-9.2%), Rubex International for Plastic and Acrylic Manufacturing (-6.9%), and Dice Sport & Casual Wear (-6.5%).

⬆️ None of the EGX30 companies reported gains yesterday.

⬇️ Top losers for EGX30 included Ibnsina Pharma (-5.0%), Raya Holding (-4.1%), and Emaar Misr (-4.0%).

Other Important Stats: 

🧈 24K Gold reached EGP  7,871 per gram, up 1.4% day-on-day but down 0.9% month-on-month.

💲 The USD reached EGP 53.37 at the National Bank of Egypt.

Financial services group EFG Holding (HRHO) reported net profit attributable to shareholders of EGP 1.03 billion for Q1 2026, down 14% year-on-year, despite total operating revenues climbing 18% to EGP 6.63 billion, according to its latest earnings release.

Growth was primarily driven by stronger contributions from BANK NXT and EFG Finance, alongside solid performance from Holding & Treasury Activities, Valu, and the group’s Buy-Side platform.

Segment performance highlights:

BANK NXT (Commercial Bank): brought in EGP 1.88 billion in revenues (+34% year-on-year), largely driven by higher net interest income supported by growth in interest-earning assets and an expanding loan book.

EFG Finance (NBFI Platform): EGP 1.61 billion (+20% year-on-year), supported by stronger business activity led by Valu's higher issuances and securitization gains, followed by Corp Solutions.

EFG Hermes (Investment Bank): EGP 3.14 billion (+9% year-on-year), as almost all business lines reported revenue growth, with Holding & Treasury Activities being the largest contributor, offsetting a decline in Investment Banking revenues.

Strategic expansion:

EFG Hermes is accelerating expansion in regional education through its Saudi Education Fund, which is targeting USD 300 million in commitments, with around USD 175 million secured so far. The fund has already deployed more than USD 110 million into six international schools under development across Riyadh, with combined capacity for roughly 12,000 students.

The strategy focuses on building an integrated K-12 education platform in Saudi Arabia, targeting the fast-growing private international schools segment in line with the Kingdom’s Vision 2030 goals. EFG added that discussions are ongoing with additional investors while the platform continues screening new acquisition and expansion opportunities.

Meanwhile, Egypt Education Platform  —backed by EFG Hermes’ private equity arm — submitted earlier this month a request to list its shares on the Egyptian Exchange’s main market. 

Recent stock performance:

The company has had a mixed start to the year, with its share price up 4.8% since the beginning of 2026, despite declining 2.7% in yesterday’s session. This leaves the stock down 12.1% over the past 12 months.

MM Group for Industry and International Trade (MTIE) delivered strong financial results in Q1 2026, with its net income rising five percent year-on-year to EGP 318 million, according to its latest earnings release. Revenues rose 24.1% year-on-year to reach EGP 6.72 billion, supported by solid growth across most operating segments.

A quick refresher on MM Group:

MM Group operates as a distribution and trading company in Egypt, with activities spanning consumer electronics, automotive distribution, and non-bank financial services. The company distributes products for leading international brands including Samsung, Vodafone, and Huawei, and holds distribution rights for automotive brands like Range Rover, Jaguar, Maserati, and Bentley. It has also been expanding into non-bank financial services through investments in Ebtikar, Basata, and Cashless.

Revenue breakdown by segment:

The consumer electronics segment accounted for 85.8% of total consolidated revenues in Q1 2026, recording a 30% year-on-year increase to EGP 5.77 billion.

The automotive segment represented 13% of total revenues and recorded a 5.5% year-on-year decrease, with revenues reaching EGP 856 million. However, the number of cars sold rose 31% year-on-year to 170 units, compared to 130 units in Q125.

The telecom segment contributed 1.4% of total revenues, with revenues increasing 32.0% year-on-year to EGP 91 million.

Recent stock performance:

The company has seen a strong start to the year, with its share price rising 21.6% since the beginning of 2026 despite dropping 3.3% by the end of trading yesterday. This makes its share value up 42.4% compared to levels recorded 12 months ago.

Capital increase plan:

In parallel with its Q1 performance, the Financial Regulatory Authority earlier this week approved MM Group’s disclosure report for a planned capital increase that would raise issued and paid-in capital from EGP 1.17 billion to EGP 1.40 billion, paving the way for an extraordinary general assembly to vote on the increase.

The capital increase will be financed through the distribution of EGP 234.14 million in bonus shares, with shareholders receiving 0.20 shares for every original share held, funded from FY2025 retained earnings. The company said the move is aimed at supporting investments in its subsidiaries.

🏗️ Amer Group (AMER) reported a 500.5% year-on-year surge in consolidated net profit to EGP 90.2 million in Q1 2026, according to its latest financial statement. Revenue also increased to EGP 398.3 million during the quarter, up from EGP 316.2 million in the corresponding period last year. The company’s share price is up 11.9% since the beginning of 2026, and is up 92.4% compared to levels recorded 12 months ago.

📊 Prime Holding (PRMH) reported a 13.1% year-on-year increase in consolidated net profit to EGP 20.42 million in Q1 2026, according to a company statement. Revenue also rose 17.75% to EGP 66.96 million compared with the same period last year. The firm’s share value is up 41.5% since the beginning of 2026, and is up 99.1% compared to levels recorded 12 months ago.

🏖️ Mena for Touristic and Real Estate Investment (MENA) swung to profitability in Q1 2026, posting a consolidated net profit of EGP 13.96 million versus a loss of EGP 4.81 million a year earlier, according to its latest financial results. This was driven by a sharp jump in revenues to EGP 20.99 million from just EGP 832.35k. The company’s share price is up 31.9% since the beginning of 2026, and is up 35.5% compared to levels recorded 12 months ago.

In IPO news:

🚀 Energy solutions firm Korra Energi’s IPO is seeing strong demand, with the public tranche oversubscribed 2.6 times and the private placement oversubscribed 4.3 times as of the end of yesterday, reflecting solid appetite from both institutional and retail investors.The offering covers up to 247.5 million shares, representing 11% of the company, priced at EGP 2.97 per share, with the issue split between a 60% private tranche and a 40% public tranche aimed at broadening market participation.

💊 Egypt’s Copad Pharma is preparing for a largely secondary IPO, expected as early as November 2026, with private equity investor Tanmiya Capital Ventures (21% stake) set for a partial exit. The deal is expected to include a 20–30% free float and raise around EGP 2.5 billion, down from earlier estimates of roughly EGP 3 billion for both IPO proceeds and annual revenues, CEO Ahmed Hosny told Zawya. The company has also scaled back its 2026 revenue outlook to about EGP 2.7 billion, while expanding into higher-margin consumer health products through an EGP 200 million push into supplements and cosmeceuticals.

Today:

Utopia - distribution date for EGP 2 per share. The record date was May 18.

Talaat Moustafa Group - distribution date for EGP 0.15 per share. The record date was May 18.

May 24:

Madinet Masr Housing - distribution date for EGP 0.15 per share. The record date was May 19.

May 25:

Eastern Company - distribution date for EGP 1 per share. The record date was May 20.

🏗️ The government is exploring a policy shift to capture part of the surge in property values created by major infrastructure projects, with the Transport Ministry considering betterment levies on real estate near new electric transit lines, a senior government official told EnterpriseAM. Under a proposed framework with the Housing Ministry, a share of land sale revenues along Monorail, LRT, High-Speed Rail, and future Alexandria Metro routes would be redirected to the National Authority for Tunnels, effectively monetizing infrastructure-driven land appreciation through a land value capture model.

💰 Egypt returned to international debt markets with a USD 1 billion social and development bond—the first issuance of this kind in the MENA region since the Iran war escalation—according to the Finance Ministry. The 8-year bond was priced at 7.6% and was oversubscribed five times, with proceeds earmarked for healthcare, education, and broader human capital development as Egypt seeks to diversify funding sources and strengthen investor confidence.