Banque Misr raised its stake in Fawry for 1.47 billion EGP

Banque Misr raised its stake in Fawry for 1.47 billion EGP

Banque Misr raised its stake in Fawry by buying an 8.85% stake in a EGP 1.47 billion transaction. The bank purchased 151 million shares at an average price of EGP 9.75 per share.

The transaction brings Banque Misr’s total stake in Fawry to 15.78%.

Link holdco bv sold part of its stake in Fawry, by selling 81.6 million shares at an average selling price of about EGP 9.7, bringing the total value of the deal to about EGP 796 million, during which Banque Misr acquired part of those shares.

Also read: Fawry’s cashless transactions exceeds EGP 11 bln in 2021

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