Faisal Islamic Bank Egypt cuts stake in Incolease

As a result, the bank’s stake in Incolease fell to 8.99% from 9.99%

  
Traders work at the Egyptian stock exchange in Cairo, November 19, 2014.

Traders work at the Egyptian stock exchange in Cairo, November 19, 2014.

REUTERS/Mohamed Abd El Ghany
 

Egypt - Faisal Islamic Bank of Egypt (FAIT) has sold 200,000 shares in International Company for Leasing (Incolease) (ICLE) for an average price of EGP 38 per share, according to a filing to the Egyptian Exchange (EGX).

As a result, the bank’s stake in Incolease fell to 8.99% from 9.99%.

The total value of the transaction amounts to EGP 7.60 million.

Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance to Islamic Sharia principles through its head office and 27 branches located across the country.

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.

More From Equities