Midvert Egypt transfers 25% stake in Financial and Industrial to Nas Investments

Midvert Egypt for Investment has completed a restructuring of its holdings in the Egyptian Financial and Industrial Company. As part of this internal reorganization, Midvert transferred a 25% stake, consisting of 25 million shares, to Nas Investments Holding Limited.

The transaction was executed at an average price of 200.5 EGP per share, totaling approximately 5.01 billion EGP. Following the transfer, Midvert’s ownership in the Egyptian Financial and Industrial Company decreased from roughly 33.03% to 8.03%, while Nas Investments Holding Limited acquired the 25% stake. The move is described as an internal restructuring among shareholders, as Nas Investments is owned by the same shareholders who own Midvert.

The transfer received no-objection from the Financial Regulatory Authority. Separately, the Egyptian Financial and Industrial Company reported a 42% increase in profits for the first half of the year, reaching approximately 343.8 million EGP, with revenues rising to 3.6 billion EGP.