10:02 PM
Sunday, December 25, 2022
Books – Mustafa Eid:
Oriental Weavers Carpet Company said that FYK Limited, which acquired today, Sunday, 24.61% of the company’s shares, is the share of Yasmine Farid Khamis and Farida Farid Khamis, 100% owned by Yasmine and Farida Farid Khamis.
Oriental Weavers added, in a statement today, Sunday, that therefore Farida and Yasmine Farid Khamis still retain their ownership in the Oriental Weavers Carpet Company indirectly.
The company stated that this restructuring process has a great positive impact on increasing the ability of the group companies to diversify financing sources internationally and enhance financing transactions, thus contributing to creating a unified investment platform to enhance future growth opportunities.
She explained that the restructuring process will not result in any modification to the ownership structure of “Oriental Weavers”, as there will be no change in the final beneficiary and then the groups associated with this company, and the ownership ratios of the associated groups following the restructuring process will become completely identical to the ownership ratios of the associated groups before the restructuring process. structuring
The Oriental Weavers Company announced in a disclosure to the Stock Exchange today, Sunday, that each of Yasmine and Farida Mohamed Farid Khamis sold their shares, estimated at a total of 24.6% in the company, in favor of the “FKY limited” company.
According to the company’s disclosure to the Stock Exchange, today, Sunday, the number of shares within this process reached regarding 163.7 million shares, at a value of regarding one billion and 375 million pounds, as the value of the share in the deal amounted to 8.40 pounds.
The share of Oriental Weavers fell by 4.71% during Sunday’s trading session, to 9.91 pounds per share.
Oriental Weavers, one of the largest carpet manufacturers in the world, has been operating in the floor covering market for more than 30 years. Oriental Weavers owns factories in America and China, and sells its products to more than 130 countries.
