Egypt Financial Regulatory Authority approves disclosure report for U for Consumer Finance in first dividend-based ownership broadening listing

The Egypt Financial Regulatory Authority (FRA) approved the publication of a trading disclosure report for U for Consumer Finance (formerly valU), a subsidiary of EFG Holding, clearing the way for its shares to be listed and traded using a mechanism that relies on dividend distributions to broaden the shareholder base. The FRA described the approach as a first for the Egyptian market and as enabling listing and trading without a public or private offering or a capital increase. The approval follows the listing and delisting rules that require an FRA-approved disclosure report to be published before trading begins once listing conditions are met. The structure, proposed by EFG Holding and adopted by the FRA, is framed as converting indirect ownership into direct ownership and expanding ownership in non-banking financial services companies; the FRA also referenced accelerated review and coordination with relevant parties to protect shareholder rights and market stability. The disclosure report includes technical, legal and financial details and will be made available to market participants, and the FRA noted that U for Consumer Finance will be the first consumer finance company to be listed.