Egyptian fintech Valu’s market cap reached $370 million as of close of trading today, following a blockbuster debut on the Egyptian Exchange (EGX) last week that saw shares surge 852.4% from their opening price of EGP 0.78 to close at EGP 7.40, hitting the maximum price ceiling allowed for first-day trading. The stock closed today at EGP 8.71.
The listing is significant as Valu became the first consumer finance company to trade on the EGX through an unconventional path that bypassed traditional IPO fundraising and capital raising.
Unlike conventional IPOs, Valu’s parent company EFG Holding distributed shares to its existing shareholders as a dividend rather than raising new capital. EFG Holding shareholders received one Valu share for every 3.3 EFG Holding shares held, with the transaction funded by $6.76 million (EGP 335.5 million) from EFG Holding’s distributable retained earnings. This resulted in EFG shareholders getting roughly 20.5% of Valu’s share capital, while EFG Holding retained a 67% stake through its EFG Finance arm.
The debut also welcomed Amazon as one of Valu’s largest shareholders, with the US tech giant acquiring 3.95% of the company for EGP 6.04 per share. The acquisition stems from a three-year-old option agreement when Amazon purchased $10 million worth of EFG Hermes’ shares on the London Stock Exchange in 2022, which included rights to convert them into a Valu stake based on a $235 million market cap during liquidity events.
Valu has established itself as a dominant force in Egypt’s consumer finance sector, holding a 25% market share. The company achieved 66.5% growth in 2024 while the broader market grew 31.2%. Between 2019 and 2024, Valu posted a 146% compound annual growth rate in gross revenue, with net profit reaching EGP 423 million in FY 2024, a 78% year-on-year increase.
By Q1 2025, Valu had processed over 9.2 million transactions and was handling approximately 16,000 daily transactions, making it the largest network after major card networks. The platform serves over 8,500 stores and online platforms across categories including home appliances, electronics, healthcare, education, and travel.
Walid Hassouna, CEO of Valu, said, “Today marks a transformative milestone in Valu’s journey. Becoming a publicly listed company is a powerful validation of the impact we’ve made and the future we are building. Since our inception, we’ve been driven by a mission to democratize access to finance and empower individuals and businesses through innovative, tech-enabled solutions. Listing Valu brings our mission of financial inclusion full circle. As we enter this new chapter, we remain committed to innovation, inclusion, and excellence.”
“Valu’s listing on the Egyptian Exchange is a proud and defining milestone for EFG Holding,” added EFG Holding Group CEO Karim Awad. “It reflects the culmination of years of strategic investment, innovation, and unwavering belief in the power of financial technology to transform lives.”
Financial Regulatory Authority Chairman Mohamed Farid highlighted the listing’s significance for Egypt’s capital markets, noting it “opens the door to expanding the base of listed companies” in the non-banking financial services sector.
With its recent fintech license from the Financial Regulatory Authority, Valu now offers a fully digital, end-to-end experience including seamless eKYC, digital contracts, and secure record-keeping.
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