Today: We have news that the government is delaying an EgyptAlum stake sale to boost its valuation + news that Qalaa is preparing Dina Farms for an EGX listing next year. Let's jump in.

🔔 EGX30 ended +2.7% by market close at 52,502 points, the EGX70 rose 1.1% to 16,132 points, and the EGX100 increased 1.3% to reach 21,925 points.

💸 The number of transactions reached 225,504 spread across 12,227,051,039 stocks leading to a turnover of EGP 4.890 billion.

🏷️Local investors were the only net buyers. 

📈 Top gainers for the market as a whole included United Housing & Development (+20.0%), Naeem Real Estate Holding Group (+11.7%), Mena Touristic & Real Estate Investment (+10.2%)

📉 Top losers for the market included Tycoon Holding (-4.7%), Creast Mark For Contracting And Real Estate Development (-4.4%), and Golden Textiles & Clothes Wool (-4.2%).

⬆️ Top gainers for EGX30 were E-finance (+9.0%), Fawry (+5.3%), and Raya Holding (+4.7%).

⬇️ Top losers for EGX30 included Orascom Construction (-2.3%), Qalaa Holdings (-1.4%), and AMOC (-1.2%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,664 per gram, down 1.2% day-on-day and down 9.9% month-on-month.

💲 The USD reached EGP 48.82 at the National Bank of Egypt.

The government has no plans to sell a stake in EgyptAlum (EGAL) until the company's valuation rises to around three to four times its current EGP 118 billion market capitalization, a senior official told EnterpriseAM. Officials are weighing either increasing the company's free float through a strategic investor or public offering, or transferring the asset to the Sovereign Fund of Egypt to allow further value creation before deciding on a sale. The official added that one Gulf company and two European firms have already expressed serious interest.

Expansion plans underpin valuation strategy

The government's strategy is centered on a pipeline of major projects, led by a planned 300,000-ton smelter expansion with Trafigura, which would double EgyptAlum's annual production capacity to around 600,000 tons, the news outlet notes. The company is also advancing a 600,000-ton greenfield aluminum project in East Al Tafreeh and a USD 3 billion alumina refinery with Aluminium Bahrain (Alba) in Safaga. Together, the three projects could lift Egypt's aluminum production capacity to roughly 1.2 million tons annually.

Funding and near-term milestones

EgyptAlum is working to secure foreign financing for the Trafigura expansion before year-end, while National Bank of Egypt and Emirates NBD have submitted financing proposals for future investments. The company is targeting EGP 3.5 billion in capital spending this fiscal year. Meanwhile, its pharmaceutical packaging plant in Naga Hammadi is scheduled to begin production in September, with a capacity of 300 tons per month. Half of the output will supply the domestic market, while the remainder is already allocated to export orders in Saudi Arabia, Italy, and other European markets.

Qalaa Holdings (CCAP) is preparing Dina Farms, one of Egypt's largest dairy producers, for an EGX listing starting next year, Managing Director and Co-Founder Hisham El Khazindar told Al Borsa. The move is part of a deliberate approach of unlocking value in maturing portfolio companies by taking them public when the time is right. TAQA Arabia (TAQA) and National Printing (NAPR) have walked that same road before it, and El Khazindar made clear Dina Farms won't be the last.

A business gaining momentum

Dina Farms is heading toward the market on the back of a strong operational run. Dina Farms Holding Co. posted revenue of EGP 1.2 billion in the third quarter of 2025, a 35% year-on-year jump driven by solid performance at Dina Farms itself alongside growth at ICDP — its fresh dairy and juice arm — on the back of higher sales volumes, price increases, and new product launches. Net income surged 270% year-on-year to EGP 89.2 million over the same period.

National River Ports pushed back

On a separate front, Qalaa has pushed the planned IPO of National River Ports Management to the fourth quarter of 2026 from an earlier target, with El Khazindar pointing to weaker summer trading activity and demand as the reason for the delay.

Dates to keep an eye out for

Today:

Delta Insurance - record date for 0.1 bonus shares per original share. The distribution date is July 8.

Housing and Development Bank - record date for 1 bonus share per original share. The distribution date is July 8.

Misr Hotels - record date for 1 bonus share per original share. The distribution date is July 8.

July 15:

Hepco for Commercial Investments and Real Estate Development - record date for 0.8 bonus shares per original share. The distribution date is July 16.

July 29:

GB Corp - distribution date for EGP 0.15 per share. The record date was April 26.

July 30: 

Misr Fertilizers Production - distribution date for EGP 1 per share. The record date was May 3.

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