Amazon Converts Option to Hold 3.95% Stake in Valu Before EGX Listing

Amazon has taken a direct 3.95% equity stake in Egypt’s non-bank consumer finance platform Valu, exercising a conversion option linked to its May 2022 investment in EFG Holding’s global depository receipts (GDRs).

That original agreement—between Amazon and EFG Holding—allowed the e-commerce giant to exchange $10 million worth of GDRs into equity upon Valu’s qualifying liquidity event, with the conversion finalised as Valu prepares for its official debut on the Egyptian Exchange (EGX).

Under the terms of the transaction, Amazon will complete the purchase on the first trading day at EGP 6.041 per share via a block trade, pending regulatory approval. Valu, a subsidiary of EFG Holding, is preparing to start regular trading in late June following a temporary float of its shares. The company specialises in buy-now-pay-later (BNPL) consumer finance, catering to underbanked segments and expanding financial access.