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Norges Bank trims stake in EFG Hermes

Norges Bank trims stake in EFG Hermes
Mubasher International for Securities acted as a broker in the transaction.
EFG Holding
HRHO
-2.49% 17.65 -0.45

Cairo – Mubasher: Norges Bank reduced its stake in the Egyptian Financial Group Hermes Holding (EFG Hermes) to 4.99% from 5.02%.

The bank sold 260,000 shares at a value of EGP 3.6 million, averaging EGP 13.86 a share, according to a bourse disclosure on Tuesday.

Mubasher International for Securities acted as a broker in the transaction.

During the first six months of 2020, EFG Hermes logged EGP 422.9 million in net profits, down from EGP 686.5 million in the year-ago period, including minority shareholders’ rights.