EGX announces 297.4 mln transaction on state-owned eFinance shares
In an announcement published on its official website, EGX stated that a transaction was executed on eFinance shares for a total of 15.98 million shares as part of the employee incentive and motivation system.
It is worth noting that eFinance's net profit increased from EGP 1.3 billion in 2023 to EGP 1.8 billion in 2024, taking minority rights into account.
The company's revenues increased from EGP 3.9 billion in 2023 to EGP 5.2 billion in 2024. It was initially listed in the Egyptian government's initial public offering (IPO) programme under the country's divestment plan.
In 2023, Saudi Arabia's Public Investment Fund (PIF) raised its stake in the company by two percent to reach 27 percent.
Egypt is ramping up its efforts to offer 10 state- and military-owned companies under its IPO programme during 2025 in line with its commitments under its Extended Fund Facility (EFF) $8 billion loan with the International Monetary Fund (IMF).
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