PHOTO
A trader works at the Egyptian Stock Exchange after its reopening, in Cairo March 23, 2011. The Egyptian stock exchange's broad index tumbled 9 percent on Wednesday after the bourse reopened following a seven-week closure caused by political turmoil. REUTERS/Mohamed Abd El-Ghany Image for illustrative purpose.
The National Service Projects Organization (NSPO) has acquired 20% equity ownership in TAQA Arabia at a total value of EGP 1.62 billion.
NSPO purchased 240.47 million shares in the EGX-listed company at an average price of EGP 6.02 per share, according to a bourse statement.
Egyptian Financial Group Hermes Holding (EFG Hermes) acted as the broker for the transaction that was concluded on 24 July 2023.
Earlier this week, TAQA Arabia recorded a block trading deal that was executed on 270.47 million of its shares at a value of EGP 1.62 billion.
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