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Fawry seeks to acquire Banque Misr's 14 million shares in Fawry Plus, representing 14.98% of its capital valued at EGP 1.15 per share, according to a bourse filing on Monday.
Meanwhile, the OGM has agreed on authorising the board to sign a contract to buy the 14.98% stake of the Commercial International Bank - Egypt (CIB) in Fawry plus.
It is noteworthy to mention that during the first quarter (Q1) of 2021, Fawry for Banking Technology and Electronic Payments posted a 125.5% year-on-year (YoY) surge in its net profits to EGP 85.79 million, compared to EGP 38.04 million, including minority shareholders’ rights.
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