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

Today: Naguib Sawiris plans a diversified holding company and announced plans to bid on airports, Arabia Investments reports 9M losses, Sidi Kerir Petrochemicals submits documents for a capital increase, and the EGX prepares IPOs in tourism and healthcare.

🔔 EGX30 ended -0.72% by market close at 42,002 points, the EGX70 rose 0.29% to 13,044 points, and the EGX100 dropped 0.11% to reach 17,216 points.

💸 The number of transactions reached 144,992 spread across 3,614,611,388 stocks leading to a turnover of EGP 6.2 billion.

🏷️ Local investors were net buyers.

📈 Top gainers for the market as a whole included El Obour Real Estate Investment (+19.99%), Ismailia Misr Poultry (+9.06%), and Egyptian Arabian (cmar) Securities Brokerage (+8.40%).

📉 Top losers for the market included El Arabia for Land Reclamation (-10.43%), South Cairo & Giza Mills & Bakeries (-5.16%), and Concrete Fashion Group (-5.13%).

⬆️ Top gainers for EGX30 included Eastern Company (+1.8%), Oriental Weavers (+1.6%), and Fawry (+1.2%).

⬇️ Top losers included E-finance (-4.0%), Telecom Egypt (-3.2%), and Emaar (-2.8%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,630 per gram, up 0.78% day-on-day and up 5.75% month-on-month.

💲 The USD reached EGP 47.38 at the National Bank of Egypt.

💵 Egyptian businessman Naguib Sawiris plans to merge his non-real estate businesses in Egypt into a single, diversified holding company to be listed on the EGX. He also confirmed that Orascom Investment Holding (OIH) intends to bid for the management of Hurghada International Airport, with potential interest in other airports if they are offered to the private sector. (Read more in our Deeper Look section.)

💸 Arabia Investments Holding (AIHC) reported a shift from profitability in 9M 2025, recording losses of EGP 154.2 million compared to profits of EGP 20.7 million during the same period in 2024. In other news from the company, the firm said it will use its creditor balances of EGP 70 million with its subsidiary UE Finance to increase its stake in the company, raising its total investment to EGP 175 million, or 79.5%. The company also plans detailed feasibility and fair-value studies to guide the capital increase and ensure sustainable financing for UE Finance and Rawaj Consumer Finance as part of their 2026–2030 strategy. It's worth noting that the company’s share value is down 29% since the start of the year. 

💰The EGX announced that Sidi Kerir Petrochemicals (SKPC) has submitted documents to register a capital increase, raising the company’s paid-up capital from EGP 1.814 billion to EGP 2.268 billion. The EGP 454 million increase will be implemented through the issuance of 226.8 million bonus shares with a nominal value of EGP 2 each, funded from shareholders’ 2024 dividend entitlements. Submitted documents are under review and will be studied before being presented to the listing committee. The company’s share value is down 1.49% since the start of 2025.

👀 Egypt’s stock market is preparing IPOs from two major companies, in tourism and healthcare, the Egyptian Exchange chairman Islam Azzam told Asharq Business. He noted that the EGX30 has jumped 60% this year — second highest globally after South Korea — with daily trading averaging EGP 7 billion and market capitalization nearing EGP 3 trillion, and said the exchange plans to expand futures and options trading next year.

December 17, 2025 (today):

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

Commercial International Bank (COMI) - distribution date for 0.1 bonus share per share. The record date was yesterday.

Rubex International for Plastic and Acrylic Manufacturing (RUBX) - distribution date for 0.068 bonus share per share. The record date was yesterday.

December 21, 2025:

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

📝 IMF approval of Egypt’s USD 8 billion financing program may be delayed due to slow progress on privatization, two government officials told EnterpriseAM, though an agreement on key issues has been reached. A potential breakthrough could come from a Banque du Caire IPO in 2Q 2026, with up to 30% of the bank offered to investors, sources familiar with the matter told EnterpriseAM. Diplomatic sources noted the IMF is pressing for “meaningful” privatization, including asset sales and private-sector participation, as a condition for final sign-off, while the government also advances other state asset programs and airport management bids.

💰 The Egyptian government has launched the country’s largest vaccine and serum manufacturing facility, GENNVAX, with a USD 150 million investment in the Suez Canal Economic Zone’s Sokhna Industrial Area. Covering 50,000 sqm, the plant will produce 29 vaccines and serums for local and regional markets, aiming to boost medical self-sufficiency and reduce imports. The project marks a major step in localizing Egypt’s pharmaceutical and biotech industries.

Egyptian businessman Naguib Sawiris said he plans to consolidate all of his companies operating in Egypt — excluding real estate — under a single holding entity that would be listed on the Egyptian Exchange. Speaking at the seventh annual Hapi newspaper conference, Sawiris said the move aims to create a large, diversified investment platform.

The new holding company would bring together activities across tourism, agriculture, manufacturing, energy, environmental services, and technology, offering investors exposure to multiple sectors through one listed vehicle. Sawiris noted that real estate assets will remain under a separate holding structure.

Airport management bids:

Sawiris also revealed that Orascom Investment Holding (OIH) intends to compete for the management of Hurghada International Airport, should the opportunity be opened to the private sector.

He added that if Luxor and Sohag airports are also offered for private management, Orascom Investment Holding would be interested in bidding for them as well. Sawiris expects the number of tourists visiting Egypt annually to double in the coming period.

Tourism projects at the Pyramids:

On the tourism front, Sawiris said he is targeting the development of a luxury hotel in the Pyramids area, with rooms offering direct views of the historic site. The project would be part of a broader tourism development plan for the area, which includes studying additional nearby land plots.

He said his company has already spent around EGP 1.5 billion on upgrading the area, with the goal of enhancing the visitor experience and maximizing the economic value of one of Egypt’s most important heritage destinations.

Focus on execution:

Sawiris emphasized that his current priority is completing and delivering existing projects before launching new expansions. He noted that the annual value of projects under his management stands at roughly EGP 50 billion — a scale he said allows for effective oversight, timely delivery, and adherence to quality standards.

For context, Orascom Investment Holding, which Naguib Sawiris is the executive chairman of, saw its share value rise 105% since the start of 2025.

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

Your daily market lens, signing off.