Cairo – Mubasher: Egyptian American Enterprise Fund has slashed its stake in Fawry for Banking Technology and Electronic Payments to 8.74% from 9.67%.
The deal involved selling 15.85 million shares for EGP 269.46 million, averaging EGP 17 apiece, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
In the first six months of 2021, Fawry posted consolidated net profits of EGP 137.15 million, up by 59.6% year-on-year (YoY) from EGP 85.9 million, including minority shareholders' rights.
