Social Impact acquires majority stake in CIRA Education

Businessmen Team banks-exchange 28 January 2025 03:02 PM

Social Impact Capital Limited has significantly increased its ownership stake in Cairo for Investment and Real Estate Development - CIRA for Education. The company's shareholding has risen from 51.22% to 88.68%, following the acquisition of approximately 218.35 million shares. This transaction amounted to 3.384 billion Egyptian pounds, with an average share price of 15.5 Egyptian pounds.

It is worth noting that Cairo for Investment and Real Estate Development - CIRA for Education achieved profits of 424.5 million Egyptian pounds during the period from September to May 2024, compared to profits of 372.9 million Egyptian pounds in the corresponding period of the previous fiscal year, taking into account minority interests.

The company reported a significant increase in revenues during the period from September to May 2024. The company's revenues surged to 2.9 billion Egyptian pounds, a substantial jump from 2 billion pounds in the corresponding period of the previous fiscal year.

Tags: