Egypt’s Fawry finishes transferring 63% of shares to indirect shareholders
Egyptian e-payment company Fawry has completed the restructuring process of its shareholders without submitting a Mandatory Tender Offer (MTO) to transfer 63 percent of share to indirect shareholders.
EFG Hermes acted as the broker for the 3.6 billion Egyptian pound transaction.
The Egyptian e-payment company Fawry finished the transfer of the ownership of the 63.99 percent stake held in the company by PSI Netherlands Holding to indirect shareholders.
The Financial Regulatory Authority (FRA) excluded Fawry’s indirect shareholders from submitting an MTO to buy 452,584,237 shares.
The majority shareholder of Fawry’s share capital, PSI Netherlands Holding BV transferred the ownership of its stake to indirect shareholders such as Helios Investment Partners, Frontier Investment Management Partners (FIM), Black Sparrow Long Term Investments LTD, International Finance Corporation and others.
PSI Netherlands Holding BV’s held a stake 452,584,237 shares, representing 63.987 percent of Fawry’s share capital.