{"id":685191,"date":"2026-02-11T00:00:00","date_gmt":"2026-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/"},"modified":"2026-03-11T10:13:45","modified_gmt":"2026-03-11T10:13:45","slug":"gourmet-shares-hit-40-regulatory-limit-in-egx-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/","title":{"rendered":"Gourmet shares hit 40% regulatory limit in EGX debut"},"content":{"rendered":"

Good<\/strong> mornin<\/strong>g, friends<\/strong>, we\u2019ve got quite an issue for you today. Leading the issue today \u2014 and setting the tone for government policy for the next few years \u2014 is a new cabinet sworn in. Unlike what many of us had been expecting, the cabinet economic team has been dramatically shaken up, with a whole host of new faces to head some of the most important ministries.<\/p>\n

On the capital markets front, Gourmet broke the IPO drought with a blockbuster EGX <\/strong>debut<\/strong>, with its shares soaring the regulatory maximum of 40%. <\/p>\n

The nation\u2019s disinflation story continued yesterday with annual urban inflation cooling <\/strong>to its lowest level since September<\/strong>, undoubtedly emboldening the Central Bank of Egypt to pull the trigger on a rate cut tomorrow. This shift in the monetary cycle is already reverberating through the real estate sector, which we dive into in today\u2019s Hardhat.<\/p>\n

***<\/strong><\/p>\n

We\u2019re hiring a technology reporter:<\/strong> EnterpriseAM is looking for a tech reporter to own the beat across Egypt, the UAE, Saudi Arabia, and beyond.<\/p>\n

This is a reporting job \u2014 not a desk job. <\/strong>You\u2019ll be working sources, breaking stories, and writing about trendlines (not just headlines) in our voice and with the authority our readers expect. AI and digital infrastructure are huge features of the beat, but our interests are broad: fintech, telecoms, regulation, SaaS, and the bajillion ways tech is reshaping how businesses operate across the region.<\/p>\n

We want someone who can pick up the phone or WhatsApp<\/strong>, get people talking, and turn what they say into stories that senior decision-makers need to read. We also expect you to attend industry events and maintain relationships with PR folks across the industry without selling out. If you\u2019ve got 2-3 years of experience and the hunger to build a beat from the ground up, we want to hear from you. We\u2019re also interested in hearing from veteran reporters. Spoken Arabic is strongly preferred.<\/p>\n

The role is based in Cairo<\/strong>, though we\u2019re open to remote for the right candidate. If you\u2019re reading EnterpriseAM, you know what we\u2019re about: A no-BS daily news outlet that tells busy execs, investors, founders, and ambitious people what they need to know about the trends shaping business, economy, finance, regulation, and public policy across our region. We write stories that have impact \u2014 about issues that matter \u2014 for a global audience of decision-makers.<\/p>\n

Do we sound like the type of place where you want work?<\/strong> Send your CV and three clips to jobs@enterpriseamea.com. Also enclose a great cover letter that tells us who you are, what you do, and why you\u2019d be a great fit for this job.<\/p>\n

***<\/p>\n

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From the bourse<\/p>\n

<\/a> Gourmet made its debut on the EGX yesterday, with shares hitting the 40% <\/strong>regulatory limit<\/strong> to close at EGP 9.66 a pop.<\/strong> The stock opened at its IPO price of EGP 6.90 \u2014 the top end of its indicative range \u2014 after a bookbuilding process that saw the private tranche 12.2x oversubscribed and the public tranche 55.8x oversubscribed<\/a>.<\/p>\n

This is the first EGX listing of 2026, and it effectively breaks the IPO drought with a<\/strong> high-quality private sector name. <\/strong>By hitting the 40% discovery-day limit, the market is signaling that EFG Hermes and B Investments priced the entry at a level that invited immediate secondary demand.<\/p>\n

What's next?<\/strong> Starting today, the daily price limits will tighten from 40% back to the standard \u00b120%. The Price Stabilization Fund is now live for 30 days (until 11 March). EFG Hermes is obligated to maintain a buy order at the EGP 6.90 IPO price for the public tranche, essentially putting a floor under the stock for the first month.<\/p>\n

AND WHILE WE\u2019RE ON<\/strong> THE TOPIC OF IPOs- <\/strong>El Ezaby Pharma could make its EGX debut next year, significant shareholder B Investments\u2019 Chairman Hazem Barakat told Asharq Business<\/a>. It\u2019s still early days, with an offering manager still to be appointed and the stake size yet to be determined.<\/p>\n

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<\/a> <\/p>\n

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Watch this space<\/p>\n

<\/a> ENERGY \u2014 Internation<\/strong>al oil companies were told to double production by <\/strong>2030, but the <\/strong>economics don\u2019t stack up under current contracts<\/strong>, Reuters<\/a> reports, citing Energean CEO Nicolas Katcharov. The pricing framework that supported earlier development phases has \u201cexpired,\u201d making it harder for companies to justify new capital, especially at brownfield assets, Katcharov said. Domestic gas prices no longer reflect costs, he added, pointing to a wide gap with imported gas.<\/p>\n

Why this matters:<\/strong> Output has fallen to its lowest level<\/a> since 2016, just as LNG imports and Israeli inflows have become structural in the energy mix. Brownfield expansions are a near-term fix that can stabilize supply without ballooning the import bill, but they require pricing that reflects the higher cost of squeezing gas out of aging reservoirs.<\/p>\n

The state says it wants to fix the issue<\/strong>, having agreed<\/a> to increase the price it pays for domestically produced gas from five foreign partners by 30-50%, with deepwater fields set for the highest increases. If contract terms shift to better reflect the true cost of gas and arrears drop<\/a>, investment could accelerate.<\/p>\n

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<\/a> CYBER SECURITY \u2014 No hack here, EgyptAir told EnterpriseAM <\/strong>in response to claims by a hacker that they are selling 104k stolen records from the state-owned airline\u2019s HR and recruitment databases, which was reported<\/a> by cybersecurity intelligence firm Hackmanac. The leak allegedly included accounts and passwords, national ID details, personal details, and other documents.<\/p>\n

EgyptAir told us no data breach or leak has been detected<\/strong>, and that no signs of a cyber attack have appeared on its system in connection with the files in question. The national flag carrier added that its HR and employee data is stored at its primary data center, which is \u201csubject to strict security procedures and systems implemented according to the highest protection standards adopted by the company\u201d with the support of a specialized cybersecurity firm.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

** DID YOU KNOW that we cover <\/strong>Saudi Arabia<\/a><\/strong>, the <\/strong>UAE<\/a><\/strong> and the <\/strong>MENA-India<\/a><\/strong>Corridor<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

\n

Happening today<\/p>\n

It\u2019s day one of Gitex Global\u2019s <\/strong>AI Everything Middle East & Africa<\/a><\/strong> summit at the Egypt <\/strong>International Exhibition Center<\/strong>, which brings together startups, investors, and policymakers from more than 60 countries to explore investments and innovation in the AI sector. The two-day event will feature a ministerial AI policy summit, exhibitions, panel discussions, networking sessions, and a hackathon.<\/p>\n

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Happening tomorrow<\/p>\n

The Central Bank of <\/strong>Egypt\u2019s Monetary Policy Committee will hold<\/strong> its<\/strong> first meeting of the year tomorrow<\/strong>, with yesterday\u2019s January inflation data strengthening expectations for further easing. <\/strong>We\u2019ve got more on inflation reaching its slowest pace since September in the newswell below.<\/p>\n

The consensus among 11 analysts and economists <\/strong>polled by EnterpriseAM<\/a><\/strong> is clear: the<\/strong> country is ready to continue, if not accelerate, its easing cycle. <\/strong>Of the analysts we surveyed, nine are calling for an immediate reduction in the overnight deposit rate. Projections range from a cautious 100 bps to a more aggressive 200 bps, which would bring the deposit rate down from its current 21.00%.<\/p>\n

***<\/strong><\/p>\n

WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses<\/strong>.
***<\/strong><\/p>\n

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PSA<\/p>\n

You c<\/strong>an now get your international driving license straight from Cairo<\/strong> International Airport. <\/strong>The Automobile and Touring Club of Egypt inked a protocol with the Interior Ministry to expand the service to the airport, effective as of the end of last month, it said in a statement<\/a>. Licenses are being issued at Terminal 3 and the Air Mall shopping area.<\/p>\n

Get your papers right: <\/strong>To apply, you\u2019ll need your original local driving license (held for at least one year) and a copy, two passport-style photos with a white background, and a valid national ID or passport along with a copy. You will also need to provide a completed application form and payment for the issuance fees.<\/p>\n

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WEATHER- We will enjoy a cooler, more comfortable day in Cairo today<\/strong>, with a high of 23\u00b0C and a low of 14\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a couple of degrees cooler still in Alexandria<\/strong>, with a high of 21\u00b0C and a low of 13\u00b0C.<\/p>\n

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The big story abroad<\/p>\n

Recent Wall Street gainers have one thing in common \u2014 they are not tech: <\/strong>Amid mounting<\/a>fears over AI advancements<\/a> superseding software firms, equities of formerly disfavored sectors have risen<\/a>, namely supermarkets, energy companies, and manufacturers. Investors have poured USD 62 bn into funds focused on non-tech stocks in recent weeks, outgrossing the USD 50 bn they attracted in the whole of 2025.<\/p>\n

Brokerages were not spared: <\/strong>Major US brokerages were also hit by the selloff \u2014 Charles Schwab, Morgan Stanley, and Raymond James saw shares sharply drop<\/a>.<\/p>\n

MEANWHILE- US retail figures lag, raise doubts over spending: <\/strong>US retail sales during the December holiday season remained flat<\/a>, suggesting that consumers remain held back by high living costs and job market precariousness.<\/p>\n

<\/p>\n

*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> EnterpriseAM\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p>\n

In today\u2019s issue: <\/strong>We look at how lower interest rates are beginning to break the gridlock in Egypt\u2019s mortgage market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends, we\u2019ve got quite an issue for you today. Leading the issue today \u2014 and setting the tone for government policy for the next few years \u2014 is a new cabinet sworn in. 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Shares are trading here under the ticker IDHC. The listing comes one day after IDH\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/406.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542727,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/","url_meta":{"origin":685191,"position":1},"title":"One step closer to Macro\u2019s IPO","author":"enterpriseam admin","date":"13 January 2022","format":false,"excerpt":"Cosmeceuticals giant Macro Group\u2019s shares will be listed on the EGX today after receiving the blessing of the bourse\u2019s listing committee yesterday, according to an EGX statement (pdf) yesterday. The listing will pave the way for company\u2019s plan to offer up to 45.8% of its shares (which will trade under\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":702167,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/14\/korra-energis-11-ipo-ends-egxs-wait-and-see\/","url_meta":{"origin":685191,"position":2},"title":"Korra Energi\u2019s 11% IPO ends EGX\u2019s wait-and-see","author":"enterpriseam admin","date":"14 May 2026","format":false,"excerpt":"The offering \u2014 expected to begin trading after Eid El Adha \u2014 is designed to fund the firm\u2019s expansion plans into Arab and African markets","rel":"","context":"In "The Big Story Today"","block_context":{"text":"The Big Story Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-big-story-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/821.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588079,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/06\/taqa-arabia-to-debut-on-the-egx-by-mid-june-asharq\/","url_meta":{"origin":685191,"position":3},"title":"Taqa Arabia to debut on the EGX by mid-June -Asharq","author":"enterpriseam admin","date":"6 June 2023","format":false,"excerpt":"The energy company will list its shares on the EGX this Thursday.","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/255.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554899,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/21\/tonight-spac-rules-are-here-hamdok-could-be-returning-as-sudans-pm-plus-talking-regulatory-changes-on-the-egx-at-auc-epea-panel\/","url_meta":{"origin":685191,"position":4},"title":"TONIGHT: SPAC rules are here + Hamdok could be returning as Sudan\u2019s PM. 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THE BIG STORY TODAY- SPAC rules are here: The Financial Regulatory Authority (FRA) issued today the rulesand regulations (pdf) for companies looking to establish blank-check firms\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560151,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/ofh-shares-hit-the-egx-today\/","url_meta":{"origin":685191,"position":5},"title":"OFH shares hit the EGX today","author":"enterpriseam admin","date":"17 February 2021","format":false,"excerpt":"Shares of newly spun-off Orascom Financial Holdings\u2019 (OFH) will begin trading on the EGX today in the final step of its split from Orascom Investment Holdings (OIH), OIH said in a regulatory filing (pdf). The Financial Regulatory Authority and OIH shareholders approved the demerger late last year.Trading of OIH\u2019s shares\u2026","rel":"","context":"In "DEMERGER WATCH"","block_context":{"text":"DEMERGER WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/demerger-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/252.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=685191"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685191\/revisions"}],"predecessor-version":[{"id":687560,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685191\/revisions\/687560"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/685189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/685192"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=685191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=685191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=685191"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=685191"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=685191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}