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SAIB sells 8.53% stake in Flora

SAIB sells 8.53% stake in Flora

Arab FinanceSociete Arabe Internationale de Banque (SAIB) has sold its 8.53% in Pyramids Paper Mills (Flora) at a total value of EGP 3.85 million, SAIB announced in a filing to the Egyptian Exchange (EGX) on August 29th.

The skate, representing 110,900 shares, has been sold to "one of the investors," according to the statement.

On August 21st, SAIB’s board of directors approved selling the bank’s entire stake of 8.53% in Flora.

Established in 1976, SAIB Bank is engaged in the provision of retail, corporate, and investment banking products and services through a network of 21 branches located across Egypt and abroad.

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