Prime Holding turns to loss
Updated 11/11/2020 2:22:00 PM
ArabFinance: Prime Holding incurred a consolidated net loss of EGP 17,088,317 in the January-September period of 2020, according to the company’s November 11th financial statements filed to the Egyptian Exchange.
In the January-September period of 2019, the company posted a net profit of EGP 4,290,329.
Standalone net loss reached EGP 16,682,959 in the January-September period of 2020, against EGP 1,314,696 posted in the corresponding period a year earlier.
Prime Capital for IPO Promotion and Coverage, a subsidiary of Prime Holding, was assigned as a financial advisor for two acquisition deals, worth EGP 1 billion, in the pharmaceutical and tourism sector.
Prime Holding recently launched a new subsidiary, Prime FinTech, with a total capital of EGP 50 million.
The listed company is engaged in the provision of several investments and financial services for corporations, institutions, government entities, and individuals within Egypt and abroad.
