Giza Systems’ value increases to $128mln on working capital, cash balances reviewal

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It is noteworthy that B investments announced on October 4th it finalized the sale of its entire stake in Giza Systems to Solutions by STC

Staff Writer, Arab Finance

January 18, 2023

EGYPT M&A

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The total valuation of Giza Systems, in which B Investments Holding (BINV) sold an indirect stake of 44.7%, has increased to $128 million from $119 million after the review of its working capital and cash balances, according to a statement sent to the Egyptian Exchange (EGX).

It is noteworthy that B investments announced on October 4th it finalized the sale of its entire stake in Giza Systems to Solutions by STC, a subsidiary of Saudi Telecommunications Company (STC), for a total equity value of $119 million.

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