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Sarwa Capital's board proposes rebranding to Contact Financial Holding

Sarwa Capital's board proposes rebranding to Contact Financial Holding
The proposal is still pending shareholder approval
Sarwa Capital Holding
CNFN
-100.00% 3.47 -3.75

Cairo – Mubasher: The board of directors Sarwa Capital Holding for Financial Investments approved a decision to rebrand to Contact Financial Holding.

The board also decided to amend the company’s authorised capital in accordance with the Financial Regulatory Authority’s (FRA) decision, the company said in a bourse disclosure on Wednesday.

The two proposals will be referred to the extraordinary general meeting (EGM), which will be held on 15 February, for approval.

During the first nine months of 2020, Sarwa Capital Holding reported net profits of EGP 202.24 million, down from EGP 292.22 million in the year-ago period, including minority shareholders’ rights.