#UAE’s Chimera becomes shareholder in EFG Hermes; 2 transactions unveiled

UAE’s Chimera becomes shareholder in EFG Hermes; 2 transactions unveiled

Chimera Investments, an Abu Dhabi-based private investment firm, became a shareholder in Egyptian Financial Group Hermes Holding (EFG Hermes) after buying 30.57 million shares in the latter for EGP 590.63 million.

Chimera currently owns a 2.62% shareholding in the EGX-listed entity at an average price of EGP 19.32 per share, according to a recent bourse disclosure.

Furthermore, RA MENA Holdings Ltd. cut its 9.71% stake in EFG Hermes to 3.17% through the sale of 76.34 million shares. The bargain was concluded at a value of EGP 1.47 billion, which represented an average amount of EGP 19.32 per share.

Meanwhile, Jayess Holdings Limited acquired a 5.25% equity ownership in the EGX-listed firm after purchasing 61.27 million shares for EGP 1.18 billion, equivalent to EGP 19.32 per share.

Beltone Securities Brokerage was the broker for Chimera’s purchase deal, while EFG Hermes led the other two transactions.

It is worth mentioning the three agreements were executed on 13 February 2023.

In the first nine months (9M) of 2022, EFG Hermes reported consolidated net profits after tax worth EGP 1.31 billion million, an annual rise from EGP 1.12 billion.