Egypt - The Egyptian Exchange (EGX) sets the opening price of Fawry for Banking and Payment Technology Services' (FWRY) rights issues at EGP 20.29 per each, according to the EGX disclosure.

The rights issue will be trading away from the underlying stock starting April 20th until May 16th.

The EGX approved listing 800 million rights issue of Fawry separated from the underlying share.

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.

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