Cairo - Mubasher: RIMCO EGT Investment LLC has raised its stake in the Egyptian Financial Group Hermes Holding (EFG Hermes) to 10.54% from 9.97%.

The transaction involved the trading of 5.21 million shares for EGP 60.13 million, averaging EGP 11.52 per share, according to a bourse disclosure on Wednesday. 

During the first quarter (Q1) of 2021, EFG Hermes posted net profits of EGP 312.13 million, up from EGP 98.92 million in the same period in 2020, including minority shareholders’ rights.