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Palm Hills ups stake in Incolease to 18.2%

Palm Hills ups stake in Incolease to 18.2%

ArabFinancePalm Hills Development Company (PHDC) has raised its stake in International Company for Leasing (Incolease) (ICLE) to 18.236% from 15.36%, according to a filing to the Egyptian Exchange (EGX) on April 20th.

As per the acquisition transaction, Plam Hills has purchased around 576,001 million shares in Incolease at a total value of EGP 23.616 million, equivalent to an average price of EGP 41 per share.

Palm Hills is an Egypt-based company that focuses on real estate investment in the new cities and urban communities, land reclamation and cultivation, and other activities associated with the Company’s operations.

Incolease is an Egypt-based company engaged in the provision of customer service and personalized financial solutions.

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