Egypt: EFG Hermes completes advisory on Vaiu's EGX listing
Arab Finance: EFG Hermes, an EFG Holding company, concluded advisory on the listing of U Consume Finance (valU) on the Egyptian Exchange (EGX) under the ticker valu, according to a press release.
The listing was implemented through an innovative in-kind dividend distribution, where EFG Holding distributed 20.488% of Valu's share capital to its shareholders, as of the record date, June 12th, 2025.
On its debut, Amazon acquired a 3.95% direct stake in valU for a price per share of EGP 6.041 and the share price witnessed a positive performance, closing at EGP 7.4 per share.
EFG Hermes acted as the sole financial advisor for EFG Holding and valU in both the EGX listing and Amazon's stake acquisition.
Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented: 'We believe this landmark transaction shall serve as a positive catalyst for the revival of activity on the stock exchange.'
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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