Ebtikar acquires 20% stake in Bee

Preparing Ebtikar for listing on the Egyptian Exchange

  
Traders work at the Egyptian stock exchange in Cairo, Egypt April 18, 2016.

Traders work at the Egyptian stock exchange in Cairo, Egypt April 18, 2016.

REUTERS/Mohamed Abd El Ghany

ArabFinance: Ebtikar Holding for Financial Investments acquired 20% of Bee, TBE Egypt for Payment Solutions and Services, for the purpose of preparing Ebtikar for listing on the Egyptian Exchange (EGX), according to a February 23rd emailed press release.

Bee was owned by Technobiz Equipments PTE. LTD company. This interest acquisition raises Ebtikar’s ownership from its current stake of 60% to reach 80%, and allowing Technobiz to participate in the capital hike in Ebtikar.

The listed MM Group for industry and International Trade holds 49.9% stake in Ebtikar.

Ebtikar earlier was implementing a restructuring plan of its investments to get ready for listing its shares on the EGX.

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