{"id":550341,"date":"2022-10-24T03:54:17","date_gmt":"2022-10-24T03:54:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/24\/uae-investor-snaps-up-3-of-edita\/"},"modified":"2022-10-24T03:54:17","modified_gmt":"2022-10-24T03:54:17","slug":"uae-investor-snaps-up-3-of-edita","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/24\/uae-investor-snaps-up-3-of-edita\/","title":{"rendered":"UAE investor snaps up 3% of Edita"},"content":{"rendered":"

<\/a> Emirati investment firm Rimco Investments acquired a <\/strong>3.0% stake in Edita<\/strong> for <\/strong>EGP <\/strong>192 mn<\/strong> in a transaction Thursday, Bloomberg Asharq<\/a> reports, citing unnamed market participants. The Dubai-based company reportedly purchased 20 mn shares at EGP 9.60 per share. A representative from Edita declined to comment when asked by Enterprise yesterday.<\/p>\n

The seller: <\/strong>One source told Asharq that UK-based investor Kingsway Capital was the selling shareholder. Al Ahly Pharos reportedly executed the transaction.<\/p>\n

Who owns what:<\/strong> Kingsway would now hold 8.9% of the company, having owned 11.9% prior to the transaction according to a disclosure (pdf)<\/a> earlier this month. Netherlands-based PE player Quantum Investment owns 42.7% while the remainder of the company is in freefloat.<\/p>\n

Buybacks:<\/strong> This comes as Edita proceeds with a share repurchase program<\/a> that will see it buy back 4.8% of its shares by January.<\/p>\n","protected":false},"excerpt":{"rendered":"

Emirati investment firm Rimco Investments acquired a 3.0% stake in Edita for EGP 192 mn in a transaction Thursday, Bloomberg Asharq reports, citing unnamed market participants. The Dubai-based company reportedly purchased 20 mn shares at EGP 9.60 per share. A representative from Edita declined to comment when asked by Enterprise yesterday. The seller: One source […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[191,68,72,7128,2573,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550341","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-edita","tag-egx","tag-enterpriseam","tag-ma-watch","tag-rimco-investments","tag-uae","wpautop","entry"],"acf":{"mongo_id":"9558187e-e04f-4c81-bcdd-d992e4b3e679","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[550330],"teaser":"","voice_url":""},"yoast_head":"\nUAE investor snaps up 3% of Edita - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/24\/uae-investor-snaps-up-3-of-edita\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE investor snaps up 3% of Edita\" \/>\n<meta property=\"og:description\" content=\"Emirati investment firm Rimco Investments acquired a 3.0% stake in Edita for EGP 192 mn in a transaction Thursday, Bloomberg Asharq reports, citing unnamed market participants. 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