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Cairo National’s loss widens to EGP 5M

Cairo National’s loss widens to EGP 5M

ArabFinance: Cairo National Company for Investment and Securities (KWIN) reported a 139% Year on Year rise in its consolidated net loss in Quarter one (Q1) of 2020, according to the company's June 15th financial statements filed to the Egyptian Exchange.

Consolidated net loss reached EGP 4,581,591 in Q1 2020, compared to EGP 1,920,369 in Q1 2019.

The company incurred a standalone net loss of EGP 3,134,291 in Q1, against EGP 743,569 posted in Q1 2019.   

In late April, the company decided to purchase 296,990 shares or 6.33% of Alexandria National Company for Financial Investment’s (ANFI) stake in National Company for Trading and Development Company (ENTAD) at the par value of share worth EGP 21.23 per share.

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.

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