ArabFinance: Prime Holdings’ (PRMH) announced that shareholder Mohamed Fawaz cut his stake via selling 5.28 million shares at EGP 6.02 million, according to a recent statement to the Egyptian Exchange.

Fawaz reduced his stake to 19.03% from 20.54%.

The company incurred a consolidated net loss of EGP 17.08 million in the January-September period of 2020, versus a net profit of EGP 4.29 million in the same period of 2019.

Prime Holding recently launched a new subsidiary, Prime FinTech, with a total capital of EGP 50 million.

The listed company is engaged in the provision of several investments and financial services for corporations, institutions, government entities, and individuals within Egypt and abroad.