Arab Finance: Electra Investment Holding RSC LTD increased its equity ownership in Elsewedy Electric (SWDY) to 20.37% from 19.98%, as per a bourse disclosure.

The UAE-based company purchased 8.39 million shares in the EGX-listed firm at a total value of EGP 740.27 million, with an average price of EGP 88.15 per share.

Arqaam Securities Brokerage was the broker for the transaction that was concluded on 8 December 2024.

Last September, Electra Investment acquired nearly 20% shareholding in Elsewedy Electric for a total of $450 million.

In the first nine months of 2024, Elsewedy Electric witnessed 64.21% higher consolidated net profit attributable to the parent company at EGP 13.252 billion, compared to EGP 8.070 billion a year earlier.

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