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Suez Canal Bank exits Mohandes Insurance

Suez Canal Bank exits Mohandes Insurance

ArabFinance: Mohandes Insurance (MOIN) said Suez Canal Bank (CANA) exited the company by selling its 2.30 million shares at EGP 33.338 million, according to the EGX’s disclosure on April 8th.

Earlier, the listed company obtained the Financial Regulatory Authority’s approval to increase its issued capital to EGP 235 million from EGP 187.5 million.

The company’s consolidated net profit stood at EGP 69.43 million in 2020.

The Egypt-based public shareholding company offers life and non-life insurance, and reinsurance products and services. Its products and services portfolio fall into two main insurance segments, namely individual insurance and property insurance.

 

 

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