Egypt: Fawry records $29.25mln block trading deal

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The Egyptian Exchange announced that the block deal was executed on 161.40mln of the company's shares, according to a bourse filing

Staff Writer, Mubasher

October 20, 2023

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Cairo - Fawry for Banking Technology and Electronic Payments witnessed a block trading agreement valued at EGP 903.88 million on Wednesday, 18 October 2023.

The Egyptian Exchange (EGX) announced that the block deal was executed on 161.40 million of the company's shares, according to a bourse filing.

In the first half (H1) of 2023, the consolidated net profits attributable to the owners of Fawry enlarged to EGP 283.05 million from EGP 52.30 million in H1-22.

Operating revenues hiked by 42.40% to EGP 1.44 billion in H1-23 from EGP 1.01 billion in H1-22, while the basic and diluted earnings per share (EPS) increased to EGP 0.08 from EGP 0.02.

As for the standalone business, the net profit after tax amounted to EGP 273.95 million as of 30 June 2023, whereas the revenues hit EGP 985.75 million.

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