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EGX 30 slips 0.28% as EFG Hermes drives IPO and securitization pipeline
The EGX 30 closed at 54,475.5 points, down 0.28% on May 11, while CIB drew EGP 747 million in turnover and HELI and MFPC advanced, according to the Cairo exchange. EFG Hermes dominated deal flow, having been appointed to lead the 20% IPO of Misr Life Insurance, according to ZAWYA and CairoScene, and having completed advisory work on Bedaya Mortgage Finance’s eighth securitization worth EGP 1.91 billion, ZAWYA reported. On the listings front, Misr Travel plans a temporary EGX listing, according to ZAWYA, while an education platform backed by EFG Hermes has filed for an EGX listing, Launch Base Africa reported. In corporate news, Egyptalum partnered with Trafigura on a $900 million aluminium smelter with EFG Hermes as adviser, according to alcircle, Telecom Egypt will release Q1 2026 results on May 21, according to Investing.com Nigeria, and Talaat Moustafa Group shares were trading near record highs on the EGX, according to AD HOC NEWS.