B Investments sold another 6.5% of Gourmet at more than double its IPO price

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Another 6.5% of Gourmet changed hands just seven months after its blockbuster IPO a bourse disclosure (pdf) the 40% stake it came out of for EGP 65 mn in 2018 a separate filing (pdf)

The disclosures didn’t name the buyer Infinity Solar El Ezaby for an IPO

REFRESHER- 47.6% of the company

Local steelmaker Metad Helwan for Metal Rolling is eyeing an EGP 1 bn IPO on the EGX in 2H 2027 Al Borsa

The proceeds are going into steel:

Ayad has previously told Al Borsa the company is targeting EGP 5.5 bn in turnover this year

REFRESHER- Two private IPOs have cleared the EGX this year Premium grocer Gourmet energy solutions firm Korra Energi

Egypt plans to build its first strategic crude oil reserve of some 16 mn barrels by year-end Asharq Business

BACKGROUND- reported back in April

How the 6 mn barrels earmarked for Egypt’s reserve would move remains unclear: falling capacity

Egypt is weathering the storm well, IMF says

Egypt’s economy defied expectations amid regional shocks due to prompt government action statement

The IMF pointed to several indicators of economic robustness June issuance of a USD 500 mn Samurai bond

Vulnerabilities remain:

USD 29.7 bn — that’s how much remittances from Egyptians working abroad reached in the first seven months of 2026 CBE data (pdf)

WEATHER- Yet another cooler summer day ahead in Cairo

It’s even nicer in Alexandria

The big story abroad

In the absence of a single story dominating the international press

JP Morgan Asset Management has signed an agreement with the Qatar Investment Authority (QIA) to establish a USD 20 bn multi-asset strategic partnership

US bases on Greenland? looking to open two military bases

AI will reshape credit ratings + ins., S&P says: report also expected to be swept up

*** It’s Going Green day — your weekly briefing of all things green in Egypt: