Egypt: Act Financial aims to raise investments to $124mln in 2024

Reuters/REUTERS

The company's share offering saw strong demand with total orders exceeding EGP 30 billion, 25% of which came from Arab and Gulf investors

Staff Writer, Arab Finance

July 31, 2024

PHOTO

Act Financial is planning to boost its investments to around EGP 6 billion by the end of 2024, CEO Basem Azab told Asharq Business.

The company's share offering saw strong demand with total orders exceeding EGP 30 billion, 25% of which came from Arab and Gulf investors, and over 40% from institutional requests.

Act Financial announced the completion of a capital increase totaling EGP 1.044 billion through the issuance of 360 shares, bringing its market capitalization to EGP 3.244 billion.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.