Odin Capital Group increases its stake in Odin Investment

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ArabFinance: Odin Capital Group (OCG) purchased the entire stake of Eg Capital Group in Odin Investments of EGP 63,874,212, according to the company's July 12th statement filed to the Egyptian Exchange

OCG purchased 14,145,310 shares increasing its stake in Odin from 13.47% to 27.68%.

Before the deal execution, Eg Capital had owned 14.21% in Odin's capital.

Odin Investments incurred a consolidated net loss of EGP 167,112 in Quarter one (Q1) of 2020, versus a net profit of EGP 500,364 achieved in Q1 2019. Nevertheless, standalone net profit stood at EGP 529,882 in Q1 2020, compared to EGP 93,412 achieved in Q1 2019.

Odin, formerly known as Egyptians Abroad for Investment and Development Company, aims to attract funds from Egyptians living abroad and invest them in the ongoing development of Egypt, with a focus on the real estate and financial services sectors.

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