Prime Holding shareholder cuts stake to 14.18%

Updated 2/9/2021 10:05:40 AM

ArabFinance: Prime Holdings’ (PRMH) announced that shareholder Mohamed Fawaz cut his stake via selling 16.95 million shares at EGP 19.59 million, according to the company’s recent statement to the Egyptian Exchange.

Fawaz reduced his stake to 14.18% from 19.03%.

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.