Arab Finance: Two Arab banks and an Egyptian one are considering acquiring a stake in Act Financial during the subscription period for the latter’s offering on the Egyptian Exchange (EGX), Al Mal News reported.

On July 2^nd, it was announced that Act Financial is planning to raise EGP 1.04 billion in a private placement of 300 million shares on the EGX from July 9th to 18th, and an initial public offering (IPO) of 60 million shares until 23^rd.

On July 4^th, Act Financial revealed that it increased its stake in Ezz Steel to 1.305% from 1.235% 

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