announce Cairo Bankbuying Egypt Bank The number of 1.1 billion shares at a price of 6.2 pounds per share, at a value of 6.974 billion pounds, raising the ownership percentage of Banque Misr from 57.14% to 99.99%. The deal was executed through the Commercial International Securities Brokerage Company.
Banque Misr owns shares of groups affiliated with Banque du Caire, distributed between 14 shares of Misr Capital Company, and the same number of shares of Misr Abu Dhabi Company.
Previously, Banque Misr had bought shares in Fawry for Banking Technology and Electronic Payments, the Export Development Bank of Egypt, 107.6 million shares, representing 6.3% of the first’s capital, and the Associated Group’s share by 0.656 percent, and 75.7 million shares, or 31.9% for the second.
On the other hand, Banque Misr reduced its stake in the International Company for Financial Leasing – Incolise, from 3 million shares, or 15.038%, to 2.2 million shares, or 11.186%. The bank exited from the Egyptian Chemical Industries Company – Kima, after it sold 44.8 million shares, or 5.021% of the company.