Link Holdco BV has reduced its stake in Egyptian digital payments company, Fawry, to 16.74 percent from 18.52 percent.

The company has sold 30.4 million shares in Fawry for EGP 516.3 million ($32.89 million).

Link Holdco B.V. acquired 149.82 million shares or 21.18 percent of the company’s capital for a total value of EGP 1.198 billion in March 2020 from PSI Netherlands Holding, which sold its entire stake in Fawry for $230 million.

(Writing by Seban Scaria; editing by Daniel Luiz) 

This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here

© ZAWYA 2021