Cairo – Mubasher: Stratford Investments Limited acquired a 3.95% stake in TAQA Arabia after buying 53.41 million shares in the latter, according to a bourse filing.
Stratford purchased the shares in the EGX-listed firm for EGP 418.79 million at an average price of EGP 7.84 per share.
It is worth highlighting that EFG Holding was the broker for the transaction that was concluded on 31 August 2023.
In the first half (H1) of 2023, the consolidated net profits after tax of TAQA Arabia declined by 13% to EGP 167.27 million from EGP 192.35 million in H1-22.
Revenues increased by 29% to EGP 6.15 billion as of 30 June 2023 from EGP 4.78 billion a year earlier, while the basic earnings per share (EPS) dropped to EGP 0.12 from EGP 0.14.
