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Wednesday, 29 July 2020

Shareholders look to sell c. 7% stake in Fawry

Shareholders look to sell 7% stake in Fawry: A group of shareholders are looking to sell a combined stake of c. 7% (50 mn shares) in EGX-listed e-payment company Fawry, a source with knowledge of the transaction told Enterprise. Selling shareholders include the Egyptian American Enterprise Fund (EAEF), the International Finance Corporation (IFC), a vehicle of private equity investor Helios, asset manager ResponsAbility, the National Bank of Egypt, Banque Misr, and a number of Fawry employees. The EAEF, IFC, and Helios vehicle Link were among 40 shareholders who earlier this year were transferred the ownership of a 63.99% stake in Fawry previously held by PSI Netherlands Holding. Fawry is Egypt’s largest financial payments business. EFG Hermes is managing the offering.

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