Cairo – Mubasher: Egypt Kuwait Holding has raised its stake in Delta Insurance to 63.22% from 61.5%. 

The transaction involved the purchase of 537,472 shares for EGP 24.28 million, averaging EGP 45.18 apiece, according to a statement to the Egyptian Exchange (EGX) on Wednesday. 

Al Ahly Pharos Securities Brokerage acted as a broker in the transaction. 

In fiscal year (FY) 2020/2021, Delta Insurance logged net profits of EGP 232.23 million, compared to EGP 180.13 million in FY19/20.