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Link HoldCo BV cuts stake in Fawry for EGP 516m

Link HoldCo BV cuts stake in Fawry for EGP 516m
The transaction involved the sale of 30.37 million shares
Fawry
FWRY
-6.46% 7.53 -0.52

Cairo – Mubasher: Link HoldCo BV has lowered its stake in Fawry for Banking Technology and Electronic Payments to 16.74% from 18.52%. 

The transaction involved the sale of 30.37 million shares for EGP 516.26 million, averaging EGP 17 apiece, Financial Brokerage Group said in a statement to the Egyptian Exchange (EGX) on Monday. 

In the first six months of 2021, Fawry posted consolidated net profits of EGP 137.15 million, up by 59.6% year-on-year (YoY) from EGP 85.9 million, including minority shareholders' rights.