Shares of Gourmet Egypt SAE surged as much as 38% in their debut on the Egyptian stock exchange, marking the country's first initial public offering of the year. The premium grocer, known for its high-end food products including foie gras, priced its shares at the top of the indicative range, reflecting strong investor demand for quality consumer brands in Egypt's growing market.

The IPO raised approximately EGP 1 billion ($32 million), with Gourmet Egypt selling a 25% stake to public investors. The company, founded in 2009, operates over 30 stores across Egypt and has positioned itself as a leader in the premium grocery segment. The successful debut comes amid improving market sentiment following Egypt's economic reforms and currency stabilization efforts.

Analysts view the strong performance as a positive signal for Egypt's equity market, which has seen limited IPO activity in recent years. The offering's success suggests investors are seeking exposure to resilient consumer businesses with established brands and growth potential in the region. Gourmet Egypt's trading debut sets a benchmark for future listings in the Egyptian market.