Thndr Claps » EGY Claps » EGX 🔔 » ADQ Holding could inject a couple more billion dollars into Egypt🤑
The ClapADQ Holding agreed with Egypt to invest about $2 billion by buying state-held stakes in some companies, according to Bloomberg.
The deetsAbout $1 billion would go into acquiring an 18% stake in the CIB (COMI), while the other $1 billion would be invested in four other public companies, including Fawry (FWRY).
Why this mattersFollowing yesterday’s currency devaluation, Egypt could use this type of investment. ADQ was recently part of a consortium that acquired a majority stake in SODIC (OCDI).
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