Egyptian consumer finance platform ValU has moved a step closer to going public after receiving provisional approval for a stock market listing from the Egyptian Exchange (EGX), marking a significant milestone in one of the country’s most closely watched fintech trajectories.
According to an official statement from the EGX, the Securities Listing Committee has approved the temporary listing of shares for U Consumer Finance, ValU’s parent company, under the ticker VALU.CA. The listing includes 1.99 billion shares with a nominal value of EGP 0.10 per share, amounting to an issued capital of approximately EGP 199.6 million (~$4.1 million).
The shares are to be listed in the Non-Banking Financial Services sector of the exchange, effective Thursday, May 22, while trading will only commence upon full regulatory compliance.
The provisional listing comes with a regulatory timeline: ValU must complete its registration with the Financial Regulatory Authority (FRA) and meet all listing conditions within six months, or risk nullification of the listing. An extension is only possible with FRA approval, based on compelling justifications and a clear roadmap from the company.
Until then, trading of the shares will be restricted, pending full authorisation from the FRA. The EGX also reminded the company of its obligation to adhere to disclosure and reporting standards during the interim listing period.
IPO Backed by $27M Securitisation Round
Coinciding with its listing milestone, ValU announced the successful completion of a securitisation deal worth EGP 1.36 billion ($27.2 million). The transaction represents the second issuance of 2025, and the fifth in its ongoing EGP 16 billion ($312 million) securitisation program — part of a multi-year strategy to unlock liquidity from its consumer finance portfolio.
The deal was led by EFG Hermes, which acted as financial advisor and lead coordinator. Arab African International Bank and EFG Hermes Investment Bank served as underwriters, while Baker Tilly Helal & Abdel Ghaffar were appointed as auditors. The issuance further reinforces ValU’s position in Egypt’s growing non-bank financial sector, where access to capital markets remains a strategic advantage.
From BNPL to Public Markets
Founded by investment firm EFG Hermes, ValU began as a Buy Now, Pay Later (BNPL) platform and has since evolved into a comprehensive digital finance provider. It has gained widespread adoption among Egyptian consumers and has introduced products ranging from investment funds like AZ ValU Cash Fund, to lifestyle financing programs such as Ulter and Shaqlabaz.
The firm recently secured a FinTech license from the FRA, enabling it to offer fully digital services — such as e-verification, e-contracting, and secure data records — across its growing portfolio. This regulatory nod marks a key enabler for ValU’s expansion into broader financial services.
In a statement earlier this year, EFG Hermes confirmed board approval for ValU’s listing, including plans to distribute a portion of its profits to shareholders in the form of ValU shares — a move aimed at increasing public float and enhancing liquidity once trading begins.
ValU’s planned IPO is shaping up to be one of the most significant fintech listings in Egypt to date. While the precise timing and valuation of the offering have yet to be disclosed, its execution is likely to set a precedent for other private fintechs in the region contemplating a transition to the public markets.
“The listing of a player like ValU could have a multiplier effect,” noted Mai Hamdy, Executive Director of Debt Capital Markets at EFG Hermes. “It sends a signal about the maturity of Egypt’s fintech ecosystem and the readiness of capital markets to absorb digital-first financial companies.”
Hamdy also emphasised the strategic use of securitisation as a financing lever, pointing to ValU’s success in diversifying its funding sources. The December 2024 tranche of EGP 519 million ($10 million) was oversubscribed, attracting institutional investors such as Arab Banking Corporation (ABC).
The Road Ahead
As ValU moves closer to listing, attention will turn to investor appetite, regulatory approvals, and its ability to maintain growth in a challenging economic environment. The company has signalled ambitions to scale its services across the MENA region, leveraging both capital market tools and strategic partnerships — like its recent co-branded credit card with Visa — to fuel expansion.
ValU’s journey from BNPL pioneer to publicly traded fintech could serve as a case study for regional startups navigating the shift from private to public capital. For now, it remains a company to watch in the evolving landscape of Middle East finance.