🔔 Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: Valu approves a huge bond program, Raya and GB Auto expand their electric vehicle operations, and Valmore explores new investments in Egypt.

🔔 EGX30 ended +0.57% by market close at 42,305 points, the EGX70 dropped 0.03% to 13,007 points, and the EGX100 increased 0.03% to reach 17,236 points.

💸 The number of transactions reached 137,236 spread across 2,604,619,778 stocks leading to a turnover of EGP 8.1 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included Alexandria National Company for Financial Investment (+9.12%), El Kahera El Watania Investment (+6.23%), and El Nasr For Manufacturing Agricultural Crops (+5.0%).

📉 Top losers for the market included Grand Investment Capital (-5.46%), Arabia for Investment and Development (-4.78%), and Engineering Industries (-3.91%).

⬆️ Top gainers for EGX30 included GB Corp (+4.34%), Palm Hills (+2.85%), and Talaat Moustafa Group (+2.47%)

⬇️ Top losers included Misr Cement (-2.97%), Raya Holding (-2.65%), and Fawry (-1.91%)

Other Important Stats: 

🧈 24K Gold reached EGP 6,623 per gram, up 0.48% day-on-day and up 5.90% month-on-month.

💲 The USD reached EGP 47.43 at the National Bank of Egypt.

💵 U Consumer Finance (VALU) secured shareholder approval to launch a multi-tranche bond program worth up to EGP 10 billion. The bonds, which are registered, tradable, and non-convertible, allow the company to raise funds without affecting equity. (Read more in our Deeper Look section.)

🚗 Raya Auto, a subsidiary of Raya Holding (RAYA), is expanding its EV footprint with a new XPENG showroom in New Cairo and plans for Egypt’s largest certified EV service center in Katameya. (Read more in our Deeper Look section.)

🚙 GB Auto, the automotive division of GB Corp, has launched three Chinese electric car models from LI AUTO in Egypt, backed by showrooms and service centers prepared for local customers. The lineup includes Li i6, Li L7, and Li L9, all featuring extended-range hybrid technology and substantial driving ranges. The company’s share price is up 61% since the start of the year.

👀 Egypt’s Minister of Petroleum and Mineral Resources met with the head of Valmore Holding (VLMR) in Kuwait to explore expanding the company’s investments in Egypt.. Discussions focused on opportunities across energy, gas, petrochemicals, green hydrogen, ammonia, and renewable projects, as well as strategic minerals like gold, copper, and phosphate. They also explored industrial development and fertilizer production, aiming to strengthen economic cooperation between Egypt and Kuwait. It’s worth noting that the company’s shares are down 9.4% since the beginning of 2025. 

December 16, 2025 (today):

General Company for Silos and Storage (GSSC) - dividend record date for EGP 2.25 per share. The distribution date is Sunday, 21 December.

Commercial International Bank (COMI) - dividend record date for 0.1 bonus share per share. The distribution date is Wednesday, 17 December.

Rubex International for Plastic and Acrylic Manufacturing (RUBX) - dividend record date for 0.068 bonus share per share. The distribution date is Wednesday, 17 December.

December 17, 2025:

Canal Shipping Agencies (CSAG) - dividend record date for EGP 2.899 per share. The distribution date is Monday, 22 December.

December 21, 2025:

Arabian Cement Co (ARCC) - dividend record date for EGP 2.94 per share. The distribution date is Wednesday, 24 December.

✈️ Qatari company Al Mana has signed a USD 200 million deal to build a sustainable aviation fuel project in Egypt’s Sokhna area. The facility, covering 100,000 square meters, will produce 200,000 tons annually of HVO jet fuel and other biofuels from used cooking oils, cutting emissions by 50–80% compared to traditional fuel. A new company, SAF Fly Ltd, will operate the plant, with Shell agreeing to a long-term purchase of the full output starting late 2027.

💰 The Holding Company for Roads, Bridges, and Land Transportation Projects, affiliated with Egypt’s Ministry of Transport, won a USD 80 million contract in Iraq to upgrade 200 kilometers of the country’s railway network, two sources told Asharq Business. This marks the company’s second major project outside Egypt, following earlier contracts in Saudi Arabia, and reflects Egypt’s growing role in regional infrastructure development. The two-year project also aligns with Iraq’s push to attract foreign investment for post-war reconstruction.

U Consumer Finance (VALU) secured shareholder approval to launch a multi-tranche bond program worth up to EGP 10 billion. The bonds, which are registered, tradable, and non-convertible, allow the company to raise funds without affecting equity while providing liquidity to investors. The board can now determine the timing, size, and terms of each tranche based on market conditions. 

The company has been making moves:

Valu completed a securitized bond offering worth EGP 735 million last month, representing the third tranche of its fifth securitization program. This came after it raised EGP 1.1 billion from the same program in October. The program was kicked off in August, when the company made an initial issuance of EGP 460.7 million.

It has big targets:

The fintech company expects 2025 revenues of EGP 21 billion, after raking in EGP 18 billion in the first nine months of the year, its CEO Walid Hassouna said in an interview with Asharq Business last month. Hassouna anticipates profits to rise 65% year-on-year to EGP 700 million for 2025, after reporting a 139% jump in net profit for the first nine months to EGP 541.44 million, driven by a tripling of consumer financing operations compared to 2024.

And is expanding regionally:

Hassouna told EnterpriseAM last month that the company has finalized key appointments in Jordan, naming a chairman and a country manager, and bringing on a CEO in October. Operations are expected to begin in the first quarter of 2026, and the company has already transferred USD 7 million to its Jordanian account.

Refresher:

The company made a headline grabbing entrance when it made its debut to the EGX back in June, with its share rising over 852% to EGP 7.40 at the time. Its share price stood at EGP 9.83 as of the end of trading yesterday.

Raya Holding (RAYA) is accelerating its push into electric vehicles as its automotive arm, Raya Auto, deepens its footprint in the local market. The company has just opened a four hundred square meter XPENG showroom on North Teseen Street in New Cairo, while also lining up the launch of what it says will be Egypt’s largest certified EV service center in Katameya before year-end. Raya Auto, the exclusive importer of the Chinese EV brand, already operates showrooms in Sheikh Zayed and Mivida.

Building an EV ecosystem:

The latest expansion follows Raya Auto’s recent debut of its EV charging brand, Electra, developed in partnership with Chinese energy technology group Sungrow. The lineup covers home chargers alongside AC and high-capacity DC units of up to one hundred and eighty kilowatts, with the rollout starting at residential and commercial sites before scaling up to public charging stations across Cairo and major intercity corridors.

Growth to back the strategy:

The move comes on the back of solid operating momentum. Raya Auto posted revenues of EGP 1.3 billion in the first nine months of 2025, marking a 34% year-on-year increase, supported by a broader product mix and improving market conditions. The auto segment accounted for 3.3% of Raya Holding’s total net profit over the period, with group profits reaching EGP 1.6 billion.

Market reaction:

Raya’s stock surged 15.31% in Sunday’s trading session following the news, but closed yesterday down 2.65% to bring its total gains since the start of the year to 17.44%

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.