Cairo – Mubasher: Coronation Asset Management (CAM), one of the biggest fund managers in South Africa, has acquired a 5.8% stake in Speed Medical Company.
The latest transaction marked the first international investment in the EGX-listed company, according to a bourse statement released on Thursday.
The management “sees the joining of such big entity with its huge investment experience as a great step towards the success of the awaited right issue for implementing the previously announced expansion plans,” the statement added.
It is worth noting that Speed Medical’s profits totalled EGP 16.4 million in the January-September period of 2019 from EGP 10.99 million a year earlier, including minority shareholders’ right.
