The Clap
Palm Hills (PHDC) raised its stake in International Financial Leasing Company (Incolease) from 9.6% to 15.36%
More on Incolease
Incolease, like the name suggests, offers financial leasing services in Egypt.
Claps Class
A lease is a legal contract outlining the terms under which one party agrees to rent property owned by another party.
The deets
Palm Hills purchased 1.149 million shares of “Incolease”, for EGP 47.138 million, at an average price of EGP 41/share.
It’s worth noting that Societe Arabe Internationale De Banque (SAIB) owns the majority ownership of “Incolease”, with 20.19%. Palm Hills owns 15.36%, & the Arab Investment Company owns 10%.