E-finance records profits of LE 275.56M during 1st half of 2021

CAIRO – 10 October 2021: E-Finance Investment Group recorded an increase in profits by 80.7 percent during the first half of 2021, recording LE 275.56 million, compared to LE 152.45 million during the first half of 2020.

The company added in a filing to the Egyptian Exchange (EGX) that revenues rose to LE 904.36 million during the first half of 2021, compared to LE 500.58 million in the comparable period of 2020.

As for the standalone results, the company turned into loss during the first six months of 2021, recording losses of LE 17.88 million, compared to LE 146.6 million in profits during the comparable period from 2020.

On Sept. 30, E-Finance Investment Group, announced the offering of 14.5 percent of its shares on the Egyptian Stock Exchange (EGX) during the first half of next October.

The company stated, in a statement, that it will offer 80 million shares of the current shares in a secondary offering on the EGX and implement the public offering in the primary market for 177.77 million ordinary shares as a capital increase, which is equivalent to a total of 14.5 percent of the company’s capital.

The Egyptian Stock Exchange (EGX) said earlier Sunday that orders will be received and recorded on the shares of e-finance for financial and digital investments at a maximum price of LE 13.98 per share, from Sunday, Oct. 10, until the end of October 17.

The EGX indicated that the volume of the public offering tranche is 25.77 million shares, representing 10 percent of the total shares offered for sale, which represents 1.61 percent of the total shares of the issuing company.

It indicated that the minimum order is 100 shares, and the maximum number of public offering shares.