Cairo – Mubasher: The National Service Projects Organization (NSPO) has acquired 20% equity ownership in TAQA Arabia at a total value of EGP 1.62 billion.

NSPO purchased 240.47 million shares in the EGX-listed company at an average price of EGP 6.02 per share, according to a bourse statement.

Egyptian Financial Group Hermes Holding (EFG Hermes) acted as the broker for the transaction that was concluded on 24 July 2023.

Earlier this week, TAQA Arabia recorded a block trading deal that was executed on 270.47 million of its shares at a value of EGP 1.62 billion.