ArabFinance: The Egyptian Exchanges (EGX) concerned committee approved listing 800 million rights issue of Fawry for Banking and Payment Technology Services (FWRY) separated from the underlying shares, according to EGXs disclosure.

The company will increase issued and paid-in capital to EGP 853.652 million from EGP 453.652 million with an increase of EGP 400 million.

EGX set the opening price of Fawry's rights issue at EGP 20.29 per each.

The listed company reported a consolidated net profit of EGP 186.23 million in 2020, compared to EGP 102.9 million in 2019.

Fawry is an Egypt-based company that provides an electronic payment network. The company allows users to pay bills in multiple channels, such as online, using automated teller machines, mobile wallets, and retail points.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.