Arab Finance: Palm Hills Development Company (PHDC) sold its entire 18.237% stake or 3.647 million shares of International Company for Leasing (Incolease) (ICLE) to Palm Holding for Financial Investment, according to two filings to the Egyptian Exchange (EGX) on February 9th.
The transaction was closed at a value of EGP 149.869 million, equivalent to an average price of EGP 41.09 per share.
Incolease is an Egypt-based company engaged in the provision of customer service and personalized financial solutions.
Palm Hills is an Egypt-based company that focuses on real estate investment in new cities and urban communities, land reclamation and cultivation, and other activities associated with the company’s operations.