Cairo – Mubasher: Norges Bank reduced its stake in the Egyptian Financial Group Hermes Holding (EFG Hermes) to 4.99% from 5.02%.
The bank sold 260,000 shares at a value of EGP 3.6 million, averaging EGP 13.86 a share, according to a bourse disclosure on Tuesday.
Mubasher International for Securities acted as a broker in the transaction.
During the first six months of 2020, EFG Hermes logged EGP 422.9 million in net profits, down from EGP 686.5 million in the year-ago period, including minority shareholders’ rights.
