Cairo – Mubasher: A Saudi shareholder increased its stake in Prime Holding to 22.50% from 19.98% at a value of EGP 5.65 million, according to a bourse filing.
Fahd bin Hamad bin Ibrahim Al Harqan purchased 8.81 million shares in the EGX-listed firm at an average price of EGP 0.64 per share.
It is worth highlighting that EFG Holding was the broker for the transaction that was executed on 14 September 2023.
Last January, Prime Holding obtained the approval of the Financial Regulatory Authority (FRA) to reduce its issued capital to EGP 175 million from EGP 350 million.
Following the decrease process, the company planned to raise its capital to EGP 275 million from EGP 175 million.