NSPO acquires 20% stake in TAQA Arabia

Updated 7/25/2023 2:45:00 PM
NSPO acquires 20% stake in TAQA Arabia

Arab Finance: The National Service Projects Organization (NSPO) has acquired a 20% stake in TAQA Arabia, or 270.470 million shares, at a total value of EGP 1.629 billion, equivalent to EGP 6.023 per share, as per a filing on July 25th.

As per the filing, Qala Holding has the right to repurchase the 20% stake sold to NSPO within four years as of the acquisition date.

On June 4th, the EGX’s listing committee approved the listing of TAQA Arabia’s shares with an issued capital of EGP 676.176 million under the ticker symbol (TAQA.CA).

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