Cairo National acquires Alexandria National stake in ENTAD
Updated 9/21/2020 2:34:00 PM
ArabFinance: Cairo National Company for Investment and Securities (KWIN) acquired the whole stake of Alexandria National Company for Financial Investment (ANFI) in National for Trading and Development Company (ENTAD) at EGP 21.23 per share, according to the Cairo National for Investment’s statement filed to the Egyptian Exchange.
On September 20th, Cairo National increased its stake from 9.15% to 35.48% in ENTAD by purchasing 296,990 shares
Cairo National reported a consolidated net loss of EGP 5,386,840 in the first half (H1) of 2020, a 45% increase from EGP 3,720,500 incurred in H1 2019.
Standalone net loss reached EGP 3,715,595 in H1 202, a 243% rise from EGP 1,082,560 incurred in H1 2019.
The investment company invests in the start-up business and provides securities exchange related services. Its main purpose is to promote and underwrite securities, participate in the establishment of companies that issue securities, and portfolio management.
