The National Bank of Egypt (NBE) has purchased 102.51 million shares in Fawry for Banking Technology and Electronic Payment (FWRY) for EGP 1.05 billion, representing an average price of EGP 10.25 per share, according to a shareholding disclosure filed to the Egyptian Exchange (EGX).
Accordingly, NBE’s stake in Fawry for Banking Technology and Electronic Payment (FWRY) rose to 12.54% from 6.54%.
As per separate disclosure, Link HoldCo BV has cut its stake in Fawry to 8.17% from 11.96% after selling 64.59 million shares for EGP 662.12 million.
Fawry is an Egypt-based company that provides an electronic payment network. The company allows users to pay bills in multiple channels, such as online, using automated teller machines, mobile wallets, and retail points.
