Amazon Acquires 3.95% Stake in valU at EGP 6.041 Per Share in Strategic Deal with EFG Holding

valU, the leading lifestyle-enabling fintech platform and a subsidiary of EFG Holding, along with EFG Holding, announced that Amazon has exercised its purchase option to acquire a direct stake in valU, further solidifying the global tech giant’s commitment to the region’s digital finance sector.

On May 12, 2022, EFG Holding and Amazon signed an Option Agreement under which Amazon agreed to purchase USD 10 million worth of international depositary receipts (IDRs) issued by EFG Holding. The agreement granted Amazon the option to exchange the IDRs for an equity stake in valU, equivalent to 4.255% of valU’s issued share capital, exercisable upon or prior to a qualified liquidity event at valU.

Following the activation of this option, and pursuant to the terms of the agreement, Amazon will acquire approximately 3.95% of valU’s shares at a price of EGP 6.041 per share. The transaction will be executed via the block trade mechanism on the first trading day of valU’s shares on the Egyptian Exchange, subject to all regulatory approvals.

Karim Awad, Group CEO of EFG Holding, commented, “We are proud to witness Amazon’s decision to acquire a direct stake in Valu, a testament to EFG Holding’s proven ability to build greenfield ventures that evolve into pioneering market leaders. This milestone underscores our unwavering commitment to our shareholders, as we continue to create and manage businesses that deliver exceptional value and long-term rewards. Valu’s success exemplifies our dedication to driving financial inclusion and digital transformation in Egypt and beyond, while solidifying our position as a catalyst for innovation and growth in the region.”

Walid Hassouna, CEO of Valu, stated: “This milestone stands as a powerful testament to the resilience and adaptability of our business model, a model that is versatile, agile, and perpetually evolving to meet the dynamic needs of our diverse client base and partners. At Valu, we remain unwavering in our commitment to redefining the customer experience through cutting-edge financial solutions that empower individuals and businesses alike, driving both convenience and opportunity in every interaction.”

Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented, “We take immense pride in having played a pivotal role in facilitating Valu’s remarkable journey from securing a strategic investment from Amazon to delivering Valu’s anticipated landmark debut on the EGX. These milestones stand as a testament to the power of our advisory expertise in helping companies achieve transformative growth and expansion.”

valU was officially listed on the Egyptian Exchange on May 21, 2025, and its shares are scheduled to begin trading on June 23, 2025.

EFG Hermes acted as the sole financial advisor to EFG Holding and valU in this transaction.