03:44 PM
Wednesday 23 March 2022
I wrote – Shaima Hefzy:
Bloomberg Agency quoted an unnamed source as saying today, Wednesday, that an Egyptian-Emirati deal to buy stakes in companies including Abu Qir Fertilizer Company, Misr for Fertilizer Production MOPCO, and Alexandria Container Handling.
The government’s stake in Abu Qir Fertilizers Company is more than 70% (the largest of which is in the National Investment Bank and the General Petroleum Corporation), and it recently sold 10% of its shares on the stock exchange for EGP 2.2 billion.
The percentage of government ownership in Alexandria for container handling is 95%, including 55.4% for the Holding Company for Maritime and Land Transport, and 39.6% for the Alexandria Port Authority, which is one of the companies that the government announced its intention to give up an additional share of it within the offering program.
And Bloomberg had published a few days ago, quoting sources, that the Abu Dhabi government’s sovereign wealth fund “Holding” (ADQ) intends to buy government stakes in Egyptian companies worth up to two billion dollars, including the Commercial International Bank and Fawry.
Today, the stock exchange announced the implementation of a large deal worth 1.5 billion pounds on Fawry shares, without announcing its parties.