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Rana Mamdouh
Al-Tawfeek Leasing Company announced the acquisition of a 9.9% stake in Prime Holding.
Prime bought 7.999 million shares of a total value of 28.799 million Egyptian pounds.
The average purchase price was 3.6 pounds, noting that Faros Securities is the brokerage firm responsible for executing the transaction.
In June, Prime Holding Company's Board of Directors approved the purchase of two companies owned by Pharos Holding.
Previously, Prime Holding had stated that she was currently working on a complete restructuring of the company's management and attracting a number of skills to the Egyptian market while seeking to take advantage of the Pharos team.
Al-Tawfeek Financial Leasing announced a net profit of 18.82 million pounds between the beginning of January and the end of March 2019, compared to 16.32 million pounds for the same period of last year.
The company's revenue during the first quarter reached 202.29 million pounds at the end of March, compared to 181.3 million pounds for the same period in 2018.
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