EGX 30 rises 1.12% as EFG Hermes drives IPO and debt flow
The EGX 30 closed up 1.12% at 52,557.6 points on May 5, while PRCL jumped 8.3%, according to the Cairo bourse. EFG Hermes was appointed sole global coordinator and bookrunner for Misr Life Insurance’s EGX IPO, ZAWYA reported on May 3 and May 4. The bank also concluded advisory work on Bedaya Mortgage Finance’s eighth securitization issuance worth EGP 1.91 billion, according to ZAWYA. In telecoms, Telecom Egypt formed a partnership with Huawei to deploy a 5G network, CairoScene reported. EFG Hermes is also targeting a $300 million investment in MindSpire, Argaam reported, without announcing a completed deal.
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EGX 30 falls 1.38% despite solid results from Juhayna, EFG and Egyptian Resorts
The EGX 30 closed down 1.38% at 54,512.7 on Aug. 19, despite a run of broadly positive corporate updates. Egyptian Resorts posted consolidated first-quarter profit of EGP 11.4 million, according to TradingView. Juhayna Food Industries reported a profit of $27.62 million in the first quarter of 2026, according to Dairy Business Middle East & Africa. EFG Holding reported higher revenue while Bank NXT profit jumped 33%, Gulf Business reported.
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