Fawry’s stock hits new high following capital raise approval

The share price of the e-payment solutions provider Fawry for Banking Technology and Electronic Payments reached an all-time high of EGP 38.5, after rising by 2.05 percent at the end of Tuesday’s trading session.

Fawry saw the trading of about 924,700 shares at a turnover of 36.33 million Egyptian pounds during the trading session.

The e-payment firm’s stock rose by 14.86%, generating a turnover of EGP 94.96 million, year-to-date (YTD), and jumped by 329.7% with a turnover of EGP 3.35 billion during 2020.

Earlier this week, Fawry announced that its shareholders approved a decision to increase the issued capital to EGP 453.65 million from EGP 353.65 million through a bonus issue, in addition to a cash increase of EGP 400 million to EGP 853.65 million.