EGX 30 rises 0.29% as dividends and IPO plans drive flow

The EGX 30 closed up 0.292% at 52,383.1 on April 29, with corporate news led by dividends and capital-markets activity. Telecom Egypt confirmed a full-year dividend of EGP 1.5 per share payable on April 30, according to TradingView, Investing.com and Arab Finance, while Cleopatra Hospital won shareholder approval for a 2025 cash dividend, ZAWYA reported. On deals, Korra Energi plans to float an 11% stake on the EGX, according to ZAWYA, and EFG Hermes completed advisory work on a second Valu share sale via accelerated bookbuild after also advising on a $190 million investment in Alameda Healthcare, Gulf Business reported. Sector momentum stayed firm with a memorandum for a 500 MW green hydrogen hub in Alexandria involving Abu Qir Fertilizers, AlexFert and Orascom Construction, according to SolarQuarter, while Talaat Moustafa Group launched a $27 billion Cairo project, HarianBasis.co reported.