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Faisal Islamic Bank Egypt cuts stake in Incolease

Faisal Islamic Bank Egypt cuts stake in Incolease

ArabFinance: Faisal Islamic Bank of Egypt (FAIT) has sold 200,000 shares in International Company for Leasing (Incolease) (ICLE) for an average price of EGP 38 per share, according to a filing to the Egyptian Exchange (EGX).

As a result, the bank’s stake in Incolease fell to 8.99% from 9.99%.

The total value of the transaction amounts to EGP 7.60 million.

Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance to Islamic Sharia principles through its head office and 27 branches located across the country.

 

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