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Amer Group studies sukuk issuance

Amer Group studies sukuk issuance

ArabFinance: Sarwa Promotion and Masr Capital teamed up with Amer Group (AMER) to prepare a preliminary study in order to issue sukuk in favor of the latter, according to the company's July 16th disclosure filed to the Egyptian Exchange.

Under the agreement signed between the three parties, Sarwa and Masr Capital will act as lead managers for the sukuk issuance.

Amer Group posted a consolidated net profit of EGP 10,653,804 in Quarter one (Q1), against a net loss of 4,550,287 in the prior-year period.

Nevertheless, the company incurred a standalone net loss of EGP 8,446,834 in Q1 2020, versus a net profit of EGP 72,403,082 in Q1 2019.

Amer Group is an Egypt-based company engaged in the diversified industry sectors. The company’s operations are structured into many segments, namely real estate, restaurant, hotel, malls, retail, among others. Other activities include the provision of touristic boats, investment and marketing, and real estate maintenance services. 

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