responsAbility Participations AG exits from Fawry in EGP 903.9M deal

Updated 10/22/2023 11:46:00 AM
responsAbility Participations AG exits from Fawry in EGP 903.9M deal

Arab Finance: responsAbility Participations AG has sold its entire 4.74% stake in Fawry for Banking Technology and Electronic Payment (FWRY) for EGP 903.887 million, as per a disclosure on October 22nd.

As per another disclosure, responsAbility Participations Maturates has bought the stake, representing 161.408 million shares, from responsAbility Participations AG at an average purchase price of EGP 5.60 per share.

The deal was executed by EFG Hermes International Securities Brokerage.

Fawry is an Egypt-based company that provides an electronic payment network. The company allows users to pay bills in multiple channels, such as online, using automated teller machines, mobile wallets, and retail points.

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