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

Today: Zahraa Maadi Investment blocks offer from Shark Tank Judges, Quantum Investment ups its stake in Edita, and updates from Juhayna, Giza General Contracting, and Atlas for Investment.

🔔 EGX30 ended +0.77% by market close at 41,419 points, the EGX70 rose 1.10% to 12,990 points, and the EGX100 increased 0.87% to reach 17,183 points.

💸 The number of transactions reached 147,957 spread across 2,729,524,468 stocks leading to a turnover of EGP 5.8 billion.

🏷️ Regional investors were the only net sellers.

📈 Top gainers for the market as a whole included Extracted Oils (+16.67%), Digitize for Investment And Technology (+13.86%), and El Obour Real Estate Investment (+9.42%).

📉 Top losers for the market included The Egyptian Modern Education Systems (--10.97%), El Nasr For Manufacturing Agricultural Crops (-4.99%), and Arabia for Investment and Development (-4.04%).

⬆️ Top gainers for EGX30 included Misr Cement (+4.8%), Ibnsina Pharma (+3.3%), and Abu Qir Fertilizers (+2.5%).

⬇️ Top losers included Raya Holding (-3.0%), Qalaa Holdings (-2.9%), and Emaar Misr (-2.0%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,803 per gram, up 0.59% day-on-day and up 8.86% month-on-month.

💲 The USD reached EGP 47.48 at the National Bank of Egypt.

❌ Zahraa Maadi Investment and Development  (ZMID) rejected a mandatory tender offer from Shark Tank Judges Ahmed Tarek and Mohamed Farouk to acquire 90% of the company at EGP 6.95 per share. (Read more in our Deeper Look section.)

⛔ Juhayna (JUFO) shareholders have removed a bylaw that blocked Qatari rival Baladna from board representation, clearing the way for the competitor to nominate a director at the next ordinary general meeting. The boardroom showdown is expected to continue at Juhayna’s spring OGM after the company closes its FY2025 books. It’s worth noting that the company’s share value is down 11% since the beginning of 2025.

💸 Quantum Investment B.V. has raised its stake in Edita Food Industries (EFID) to 48.79%, up from 45.07%, through a block trade on the EGX. The transaction involved the purchase of around 51.46 million shares at a total value of EGP 1.26 billion, with an average price of EGP 24.5 per share, according to a disclosure on Tuesday. Edita’s share value is up 97% since the start of the year.

💰The Financial Regulatory Authority approved Giza General Contracting’s (GGCC) disclosure on a proposed capital increase. The company plans to raise its paid-up capital from EGP 288.542 million to EGP 432.814 million by issuing 721,359,785 shares at a nominal value of EGP 0.20 each, funded from reserves and retained earnings for FY2024. The company's share price is up 53.4% since the start of the year.

💵 The Financial Regulatory Authority approved Atlas for Investment and Food Industries (AIFI) to invite existing shareholders to subscribe to a capital increase from EGP 65.12 million to EGP 115.12 million, with a nominal value of EGP 0.10 per share. Subscription opens on 8 January for 19 days, ending 26 January, with early closure possible if fully covered.  It’s worth noting that the company’s share value is up 165% year-to-date.

December 24, 2025 (today):

Arabian Cement Co (ARCC) - dividend distribution date for EGP 2.94 per share. The record was 21 December.

National Company for Housing for Professional Syndicates (NHPS) - dividend record date for EGP 7.5 per share. The distribution date is 29 December.

December 25, 2025:

Wadi Kom Ombo Land Reclamation (WKOL) - dividend record date for EGP 7.07 per share. The distribution date is 30 December.

CIRA Education (CIRA) - dividend record date for EGP 0.343 per share. The distribution date is 30 December.

E-Finance For Digital and Financial Investments (EFIH) - dividend record date for EGP 0.174 per share. The distribution date is 30 December.

December 28, 2025:

Al Shams Housing and Urbanization (ELSH) - dividend distribution date for EGP 0.05 per share. The record date was 23 December.

📝The IMF and Egyptian authorities reached a technical agreement on the fifth and sixth reviews under the Extended Fund Facility (EFF) and the first review under the Resilience and Sustainability Facility (RSF), paving the way for USD 2.7 billion in funding, with formal approval expected in January. This comes as Egypt’s GDP grew 4.4% in FY2024/2025 and 5.3% in Q1 FY2025/2026, driven by manufacturing, transport, finance, and tourism, while external accounts and fiscal performance strengthened. The RSF portion of USD 274 million will support social protection and structural reforms, and the USD 2.5 billion EFF disbursement is tied to state-owned company IPOs—Banque du Caire expected next year—and fuel subsidy cuts.

💰 A handful of major shipping vessels are returning to the Suez Canal, with giant CMA CGM ships and a Maersk vessel passing through yesterday. Suez Canal traffic from July to mid-December generated USD 1.97 billion, up 17.5% from the same period last year and signaling a gradual return to normalcy following disruptions caused by Houthi attacks. Suez Canal Authority head Osama Rabie expects revenues to grow to around USD 8 billion in 2026/2027 and USD 10 billion in 2027/2028, underlining the canal’s key role as a major source of foreign currency for Egypt.

Zahraa Maadi Investment and Development (ZMID) has officially rejected the mandatory tender offer from investors Ahmed Tarek and Mohamed Farouk, publicly known as judges on Shark Tank Egypt, who had proposed acquiring 90% of the company at EGP 6.95 per share in a transaction valued at around EGP 6.26 billion. The company’s share price fell 1.53% by the end of trading yesterday to EGP 5.79, bringing its gains since the start of the year to 80.37%.

Details:

The board declined the offer, citing a significant gap between the offer price and the company’s fair book value, which is expected to grow amid rapid expansion and new projects.

Major shareholders, who collectively own 53.9% of the company and are fully state-owned, emphasized that any acquisition would require a thorough valuation and regulatory approvals. These include the Holding Company for Construction and Development (23.48%), Maadi Development and Reconstruction (14.79%), El Nasr Housing and Development (9.32%), and El Maamoura for Construction and Tourism Development (6.31%).

Remember, the company has been making moves:

Last month, the company’s board greenlit the acquisition of a 60-feddan land parcel in New Sphinx City for EGP 958.1 million. The site will be developed into a fully integrated residential project over the next five years. 

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

Your daily market lens, signing off.