Egypt: Link Holdco cuts stake in Fawry to 5%

Reuters

EFG Hermes was the broker for the transaction

Staff Writer, Mubasher

July 3, 2024

PHOTO

Cairo – Link Holdco lowered its equity ownership in Fawry for Banking Technology and Electronic Payments to 4.99% from 5.09%, according to a bourse disclosure.

Link Holdco sold 3.39 million shares in Fawry at a value of EGP 20.66 million and an average price of EGP 6.09 per share.

It is worth highlighting that EFG Hermes was the broker for the transaction that was concluded on 26 June 2024.

Earlier this week, the EGX-listed firm registered a block-trading transaction worth EGP 1.02 billion.

In the first three months (3M) of 2024, Fawry logged consolidated net profit amounting to EGP 333.71 million, higher year-on-year (YoY) than EGP 142.05 million.

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