FAWRY FOR BANKING TECHNOLOGY AND ELECTRONIC PAYMENT
FWRY
Companies InvestmentsNeutral News
Link Holdco Trims Fawry Stake Amid Block Trade Surge
Link Holdco reduces Fawry stake to 4.99% following a EGP 1.02B block trade; Q1 profit surges 135% YoY.
July 3, 2024 at 10:22:00 AMScore: 88
Cairo-based financial firm Link Holdco has reduced its equity stake in Fawry for Banking Technology and Electronic Payments to 4.99%, down from 5.09%. The divestment involved selling 3.39 million shares at EGP 6.09 per share, totaling EGP 20.66 million, with EFG Hermes acting as broker. This follows a recent EGP 1.02 billion block trade executed on the Egyptian Exchange (EGX). Fawry’s Q1 2024 consolidated net profit surged 135% year-on-year to EGP 333.71 million, signaling robust growth despite the shareholder adjustment.
Recommended Actions
- Hold Fawry stock pending post-trade price stabilization
- Monitor institutional activity via EGX disclosures
- Review EFG Hermes' brokerage analysis
- Compare Q1 results with sector peers
- Track Fawry's digital payment expansion plans
Positive Aspects
- 135% YoY profit growth
- Strategic large-scale transaction execution
Negative Aspects
- Major shareholder divestment
- Potential market uncertainty from block trade
Recent News
January 22, 2024 at 12:37:00 PMGiza Contracting Secures EGP 539 Million Mega-Contract for New Aswan City DevelopmentJuly 3, 2024 at 10:22:00 AMLink Holdco Trims Fawry Stake Amid Block Trade Surge
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May 29, 2024 at 10:36:00 AMRaya Holding Soars with 131% Profit Surge in Q1-24 Amid Standalone Losses
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GIZA GENERAL CONTRACTINGEgyptian construction giant lands major infrastructure deal while navigating revenue challenges in 2023 financials
FWRY
FAWRY FOR BANKING TECHNOLOGY AND ELECTRONIC PAYMENTLink Holdco reduces Fawry stake to 4.99% following a EGP 1.02B block trade; Q1 profit surges 135% YoY.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports a 34% profit surge to EGP 564M in 2023, driven by revenue growth, but standalone losses widen.
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RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports soaring Q1-24 consolidated profits but faces standalone losses as revenues and assets grow.
