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Cairo National H1 loss increase

Cairo National H1 loss increase

ArabFinance: Cairo National Company for Investment and Securities (KWIN) reported a 45% Year on Year increase in its consolidated net loss in the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 5,386,840 in H1 of 2020, compared to EGP 3,720,500 incurred in H1 2019.

Standalone net loss reached EGP 3,715,595 in H1, an 243% rise from EGP 1,082,560 incurred in H1 of 2019.

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

In addition, the company approved purchasing 738,420 shares a 15.74% of Assiut Islamic Trading Company (AITG) in ENTAD at 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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