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ArabFinance: Prime FinTech, the non-banking financial services arm of the listed Prime Holding (PRMH), intends to float its shares on the Egyptian Exchange (EGX) within two years, Al Mal News reported on November 17th.

 

The investment arm’s capital currently stands at EGP 75 million, with a target to increase it to EGP 100 million by the end of 2020, deputy CEO at Prime Holding Mohamed Maher noted, according to the news portal.

Prime FinTech also plans to add other activities to its business, including mortgage finance, insurance, and microfinance, according to Maher.

 

The listed firm announced last August the launch of Prime FinTech as a subsidiary with a capital of EGP 50 million.

 

Source: https://www.arabfinance.com/en/news/details/egypt-companies/529208

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