The Egyptian giant Valu, a subsidiary of EFG Holding, is now listed on the Egyptian Stock Exchange (EGX), becoming the first consumer credit company to enter the market, as announced in a press release on Monday, June 23.
EFG Holding completed this operation through a distribution of dividends in kind. A 20.49% stake in the capital was indeed distributed to shareholders, funded by undistributed profits, at a rate of one Valu share for every 3.33 EFG Holding shares. The operation is valued at approximately 7.13 million USD (335 million EGP).
“The listing conditions have been met, particularly in terms of the number of shareholders and freely traded shares, by distributing shares of Valu as dividends to shareholders of the listed company. Valu is the first consumer credit company listed and traded on the Egyptian Stock Exchange,” said Dr. Mohamed Farid, Executive Chairman of the Financial Regulatory Authority (FRA).
Amazon took advantage of the operation to acquire a direct stake of 3.95%, valuing the share at 0.13 USD (6.041 EGP). EFG Finance Holding retains 67% of the capital.
A month earlier, Valu had completed a securitized bond issue of 22 million USD (1.036 billion EGP) as part of a global program of 340 million USD, supporting its rapid expansion.
In 2024, Valu recorded a growth of 66.5%, reaching a 25% market share, with a net profit of around 9 million USD. With over 9 million annual transactions and recently accredited as a fintech by the FRA, Valu now offers a 100% digital experience.
“Becoming a publicly traded company is a powerful validation of the impact we have had and the future we are building,” said Walid Hassouna, CEO of Valu. “The listing of Valu completes the circle of our financial inclusion mission.”
