ADIB Egypt sees sale, purchase of EGP 40.5m equity

Cairo – Mubasher: Emirates International Investments – Egypt has exited its 1.5% equity ownership in Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) on 21 November.

The company sold 3 million shares in the bank for an average sale price of EGP 13.5 per share. The total value of the transaction reached EGP 40.51 million, according to a bourse filing on Sunday.

In a separate disclosure, ADIB Egypt noted that Emirates International Investments LLC purchased 3 million shares for EGP 40.51 million. The company has increased its stake in the bank to 13.44% from 11.94%.

Prime Securities has acted as the broker for both the sale and purchase transactions.  

Mubasher Contribution Time: 21-Nov-2021 15:37 (GMT)
Mubasher Last Update Time: 21-Nov-2021 15:39 (GMT)