Korra Energi’s institutional IPO tranche 2.7x covered on day one

Good morning, friends.

Also on the Mediterranean

On the monetary front

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Institutions pile into Korra

The institutional tranche of Korra Energi’s IPO was 2.7x covered on the first day o f bookbuilding a bourse filing (pdf)

The remaining 40% of shares goes to retail subscriptions

The private offering reflects strong investor appetite for the energy solutions firm

REFRESHER- The founding family is looking to raise EGP 735 mn in gross proceeds EGX’s second private-sector IPO of the year

Concerns over consumer credit reach parliament

Scrutiny toward non-bank financial institutions (NBFIs) is escalating as the brewing consumer credit debate reaches parliament. official briefing

MEANWHILE- The Central Bank of Egypt moved to de-risk the sector

Third time’s the charm?

The Finance Ministry will launch its third Citizen Bond issuance in early June

The first two tranches told different stories.

The 17.75% fixed return is still attractive against competing retail products

The proximity premium

The government wants a slice of the gains to property values driven by new infrastructure projects

How it works: Light Rail Transit (LRT)

Arab Monetary Fund contribution bump

Egypt is raising its contribution to the Arab Monetary Fund (AMF) from XAD 88 mn (USD 359 mn) to XAD 210 mn (USD 856 mn)

A long relationship:

Happy Eid El Adha: will enjoy a six-day paid holiday will be closed

It’s breezier in Alexandria

In a market defined by geopolitical risk, inflation, currency volatility, and declining interest rates, knowing how to manage your money has never been more important, and yet few people are really good at it.

The default in Egypt has traditionally been to dollarize, buy real estate, or stash your extra cash in a high-yield certificate of deposit, but that playbook is dying.

With an illiquid real estate market, the era of ultra-high-yield deposits coming to an end, and a rapidly expanding ecosystem of digital investment options, investors are looking for new, smarter opportunities.

In this four-part series, Money Matters will walk you through smart personal finance decisions regardless of your age, income, or starting point.

Coming straight to your inbox — today, at 11 AM Egypt.

The big story abroad

With Kevi n Warsh poised to take the helm of the Federal Reserve this Friday rising treasury yields

Meanwhile, in the tech world: Gemini Spark

And speaking of AI: is looking

Good news for Arsenal fans: took home

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: