Egypt's Naeem Holding mulls acquisition of Alpha Capital Holding

The company will still conduct the due diligence process

  
The Egyptian Exchange bell is seen at the stock exchange in Cairo, Image used for illustrative purpose

The Egyptian Exchange bell is seen at the stock exchange in Cairo, Image used for illustrative purpose

REUTERS/Mohamed Abd El Ghany

Cairo –  Naeem Holding for Investment is considering the acquisition of Alpha Capital Holding, a specialised asset management company.

The company is awaiting the Financial Regulatory Authority’s (FRA) approval to conduct the due diligence process, according to a statement to the Egyptian Exchange (EGX) on Thursday.

On a decision is taken, it will be announced in due course.

During the first nine months of 2020, Naeem Holding for Investment achieved net profits of $652,353, against net losses of $2.4 million in the same period of 2019.

Source: Mubasher

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