Hermes bought 317.6 thousand Tanmeyah shares from the over-the-counter market (OTC) for EGP 415 million, according to Al Mal. The stake is the equivalent of 6.5% of Tanmeyah’s ownership, raising Hermes ownership in Tanmeyah to 100%.
More on Tanmeyah🧐 Tanmeyah Microenterprise Services is a non-bank provider of microfinance solutions. The company caters to owners of small businesses across Egypt who lack access to financing from the traditional banking sector.
Why is this important🤔 A restructuring process is likely to happen, with the current Tanmeyah management team moving to non-executive positions.