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

Today: Egypt's first SPAC started trading yesterday, Al Baraka got an extension on its acquisition offer, and updates from Eastern Company and Aspire

🔔 EGX30 ended +0.85% by market close at 41,604 points, the EGX70 rose 0.02% to 13,078 points, and the EGX100 rose 0.39%  to reach 17,259 points.

💸 The number of transactions reached 129,667 spread across 2,257,257,846 stocks leading to a turnover of EGP 4.5 billion.

🏷️ Local investors were the only net buyers.

📈Top gainers across the broader market Catalyst Partners Middle East (+ 20%), MB Engineering (+19.08%), and Arab Co. for Asset Management And Development (+12.50%).

Top losers: Subscription Rights Of Copper For Commercial Investment (-7.19%,) by North Cairo Mills (-4.99%), then South Cairo and Giza Flour Mills and Bakeries (-4.83%.)

⬆️ Top gainers for EGX30 included Misr Cement (+9.1%), Qalaa Holdings (+3.6%), and E-finance (+3.3%).

⬇️ Top losers included: Beltone Holding (-1.4%), Abu Qir Fertilizers (-0.6%), and ADIB (-0.6%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,931 per gram, down 0.86% day-on-day but up 6.81% month-on-month.

💲 The USD reached EGP 47.61 at the National Bank of Egypt.

✅Catalyst Partners Middle East (CPME) has begun trading on the EGX, marking the launch of Egypt’s first SPAC launch of Egypt’s first SPAC after completing acquisitions in non-banking financial services and fintech. Backed by a significantly expanded capital base, the company plans to pursue further acquisitions while expanding regionally. (Read more in our Deeper Look section.)

⌛ Al Baraka Bank Egypt (SAUD) received a 60-working-day extension from the Financial Regulatory Authority to complete a mandatory tender offer for Al Tawfeek Leasing, starting tomorrow. The bank plans to raise its stake from 7.6% to up to 90%, with at least 51% shareholder acceptance, via a share swap where selling shareholders receive new Al Baraka shares. Al Baraka’s share value is up 19% since the start of the year, while Al Tawfeek is up almost 50%.

📝 Eastern Company (EAST) posted an 18% year-on-year increase in Q1 net profit, reaching EGP 2.15 billion. The company’s revenues also grew significantly, rising to EGP 10.63 billion from EGP 8.12 billion in the same period last year. Its share value is up 28% since the start of the year.

✅Aspire Capital Holding (ASPI) reported a 6.8% rise in net profit for the first nine months of 2025, reaching EGP 42.24 million. Revenues climbed to EGP 556.43 million from EGP 379.48 million. The company’s shares are up 24% since the start of the year.

December 29:

National Company for Housing for Professional Syndicates (NHPS) - dividend distribution date for EGP 7.5 per share. The record date was 24 December.

December 30:

Wadi Kom Ombo Land Reclamation (WKOL) - dividend distribution date for EGP 7.07 per share. The record date was 25 December.

CIRA Education (CIRA) - dividend distribution date for EGP 0.343 per share. The record date was 25 December.

E-Finance For Digital and Financial Investments (EFIH) - dividend distribution date for EGP 0.174 per share. The record date was 25 December.

December 31:

Suez Canal Company for Technology Settling (SCTS) - dividend distribution date for EGP 1.01 per share. The record date was 28 December.

Abu Qir Fertilizers (ABUK) - dividend distribution date for EGP 1.50 per share. The record date was 21 October.

⬇️ Egyptian Countryside Development is launching an EGP 25 billion project to connect West Minya to the national electricity grid, with total capacity set to reach 500 MVA. The first phase will deliver 100 MVA, supporting a shift from land reclamation toward an agro-industrial zone with processing and export capabilities.

📝Egypt signed a USD 22 million (around EGP 1 billion) grant agreement with Japan’s JICA to build the Suez Canal Authority’s first-ever diving support vessel. The ship will strengthen maritime safety, emergency response, and rescue operations in the canal and will be built in Japan to the latest environmental and safety standards.

Shares of Catalyst Partners Middle East kicked off trading on the Egyptian Exchange, officially introducing Egypt’s first special purpose acquisition company to the market. The listing comes after the company completed acquisitions of Catalyst Partners Holding in non-banking financial services and fintech startup Qardy, laying the groundwork for an integrated financial services platform.

What are SPACs?

SPACs, often called “blank check companies,” are publicly traded shell firms set up to acquire or merge with privately held businesses, giving those companies a route to list on the stock market. They raise funds through an IPO, place the proceeds in a trust account, and usually have 18 to 24 months to complete a deal.

Capital structure:

The EGX previously approved a major capital expansion for Catalyst Partners Middle East, raising its authorized capital from EGP 1 billion to EGP 14 billion, while paid-in capital increased to EGP 3.02 billion, providing the company with a sizable base to pursue acquisitions.

What’s next:

The company’s CEO said in an interview yesterday with Asharq that he plans to use available liquidity to pursue new deals in non-banking financial services and fintech, with a growing focus on artificial intelligence and blockchain. The company is also eyeing regional expansion, particularly in Saudi Arabia and the UAE.

Market response:

The company’s shares rose 20% to become the market’s top gainer on its debut yesterday, closing at EGP 12.

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

Your daily market lens, signing off.