Goldman Sachs raises equity ownership in Cleopatra Hospitals Group

Cairo –  Goldman Sachs International, a subsidiary of the Goldman Sachs Group, increased its 4.99% stake in Cleopatra Hospitals Group to 5.12%.

The unit purchased 1.70 million shares from the medical group in exchange for EGP 10.39 million at an average price of EGP 6.11 per share, according to a bourse statement.

The Commercial International Brokerage Company (CIBC) was the broker for the transaction that was executed on 22 May 2024.

Goldman Sachs Group recently became the first Wall Street bank to receive a licence for a headquarters (HQ) in Saudi Arabia.

In the first quarter (Q1) of 2024, Cleopatra Hospitals Group logged higher consolidated net profit after tax at EGP 204.62 million, compared to EGP 106.58 million in Q1-23.

As for the standalone profits, they hiked to EGP 100.90 million in Q1-24 from EGP 58.79 million during the same period in 2023.

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