EGX Announces Five Deals Including AFC, MOPCO, Alex Cont, CIB, Fawry

EGX Announces Five Deals Including AFC, MOPCO, Alex Cont, CIB, Fawry

The Egyptian Stock Exchange announced the implementation of five deals worth about $2 billion, Al Ahram Newspaper reported.

The dealings included acquiring stakes in the Abu Qir Fertilizers and Chemicals Company (AFC), the Misr Fertilizers Production Company (MOPCO), the Alexandria Container Handling Company, the Commercial International Bank (CIB), and Fawry.

AFC shares’ deal recorded 271,573,655 shares, with a paid amount of $391.9 million. MOPCO shares’ deal amounted for 45,823,446 shares, with a paid amount of $266.6 million.

Additionally, executing the deal on CIB shares worth $911 million, for 340,096,135 shares. Fawry shares’ deal recorded 215,124,316 shares, with a paid-out amount of $68.6 million, while Alexandria Container Handling shares’ deal amounted for 476,721,088 shares, with a paid-out amount of $186 million.

Press reports indicated that the UAE sovereign fund (ADQ) has acquired stakes in the 5 companies in the framework of  its long-term commitment to investing in Egypt’s economic growth through its USD 20 billion joint strategic investment platform.

Sarah Samir 2790 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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