Saudi Derayah Financial ups stake in El Wadi

Updated 5/10/2022 3:17:00 PM

ArabFinance: Saudi Arabia’s Derayah Financial Corp has bought 1.275 million shares in El Wadi for International and Investment Development (ELWA) in consideration of EGP 684,599, according to a filing to the Egyptian Exchange (EGX) on Tuesday.

Upon the completion of the deal, Derayah’s stake in El Wadi was increased to 5.66% from 4.9%.

El Wadi, formerly El Wadi Company for Touristic Investment, is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, gymnasiums, and sauna facilities.