Today: We have some important updates from Fawry, which is working on expanding into Saudi Arabia, and CI Capital, which just reported a rise in its assets under management. Let's jump in.

🔔 EGX30 ended +1.0% by market close at 52,374 points, the EGX70 rose 1.5% to 15,580 points, and the EGX100 rose 1.3% to reach 21,458 points.

💸 The number of transactions reached 189,207 spread across 2,508,720,144 stocks leading to a turnover of EGP 8.887 billion.

🏷️ International investors were the only net sellers. 

📈 Top gainers for the market as a whole included Tycoon Holding (+20.0%), Arabia Investments Holding (+19.6%), International Co For Investment & Development (+13.1%).

📉 Top losers for the market included El Shams Housing & Urbanization (-4.2%), Ceramic & Porcelain (-2.7%), and CI Capital (-2.3%).

⬆️ Top gainers for EGX30 included GB Corp (+5.3%), Heliopolis Housing (+5.0%), and Beltone Holding (+3.3%).

⬇️ Top losers for EGX30 included Misr Cement (-1.6%), Qalaa Holdings (-1.1%), and Edita (-1.1%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,364 per gram, down 1.5% day-on-day and down 9.8% month-on-month.

💲 The USD reached EGP 51.67 at the National Bank of Egypt.

Fawry (FWRY) is moving ahead with plans to enter the Saudi market, with the company continuing to work through regulatory requirements needed to obtain an operating license in the kingdom, according to CEO Ashraf Sabry.

Saudi expansion remains in focus:

Speaking to Asharq on the sidelines of the Portfolio Egypt 2026 conference, Sabry said the company is still engaged with Saudi regulators and responding to licensing requirements, though he did not provide a timeline for approval.

A successful entry into Saudi Arabia would mark a significant milestone in Fawry's regional growth strategy, expanding its presence beyond Egypt and into one of the Middle East's largest fintech markets.

The company distanced itself from an overseas investigation:

Separately, Fawry recently issued a clarification to investors following reports linking a similarly named offshore company to an international financial crime investigation.

The company said neither Fawry nor any of its subsidiaries has any connection to the case, emphasizing that the entity referenced in the investigation operates outside Egypt and is not affiliated with the listed fintech group.

It also reaffirmed that its operations remain fully supervised by Egyptian regulators.

Recent stock performance:

It’s worth noting that Fawry’s share value has risen 15.9% since the beginning of 2026 after gaining 1.6% by the end of yesterday’s session. This makes it up 69.2% compared to levels recorded a year ago.

CI Capital Asset Management has grown assets under management beyond EGP 180 billion, according to statements by Managing Director and Chief Investment Officer Tarek Shaheen to Al Arabiya, as the firm continues to attract inflows into its investment products.

New fund targets expected listings:

The company is also rolling out a new investment vehicle focused on upcoming stock market offerings. The "CI IPO Fund" is designed to give investors exposure to companies expected to list on the Egyptian Exchange, including potential government offerings that may come to market over the coming period.

The launch comes as authorities work to revive the state privatization program and prepare a pipeline of new listings across several sectors, creating opportunities for fund managers looking to capitalize on fresh equity offerings.

Specialized funds remain a growth focus:

Alongside the IPO fund, CI Capital continues to expand its lineup of specialized investment products, including dividend-focused and quantitative funds.

The strategy reflects growing competition among asset managers to attract investors through more targeted products rather than relying solely on traditional equity and fixed-income funds.

Recent stock performance:

CI Capital’s share price has risen 29.9% since the beginning of 2026. This makes it up 97.3% compared to levels recorded a year ago.

Dates to keep an eye out for

11 June:

First trading day for Korra Energi.

15 June:

Misr Beni Suef Cement - record date for EGP 10 per share. The distribution date is June 18.

June 21:

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

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.

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.

⚡US energy company Chevron plans to invest around USD 400 million to drill four development wells in Egypt’s Nargis offshore gas field, with production expected to be fully ramped up by mid-2027, according to a government official speaking to Asharq. The project is set to add roughly 500 million cubic feet per day to Egypt’s gas output by early 2028, as part of efforts to accelerate production from newly discovered reserves in the Mediterranean and narrow the country’s energy supply gap.

📝 Egypt is set to unveil an updated State Ownership Policy Document before the end of June, outlining a streamlined framework aimed at expanding private-sector participation and redefining the government's role in the economy, Assistant Prime Minister Hashem El-Sayed told Al Arabiya. He also said preparations are advancing for future state asset sales, with 16 government-owned companies already temporarily listed on the EGX.