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NSPO acquires 20% share of TAQA Arabia

The National Service Projects Organization (NSPO) has acquired a 20 percent share of TAQA Arabia at LE 1.6 billion.

The deal was implemented in Monday’s session after Silverstone Capital sold 20 percent of its shares in the company at a price of LE 6.02, to reduce its ownership stake after executing the deal to 29 percent – compared to 49 percent before the deal.

TAQA Arabia started trading its shares in the Egyptian Stock Exchange, as of July 10.

The Egyptian Stock Exchange had agreed to list the shares of TAQA Arabia with an issued capital of LE 676.2 million, distributed over 1.35 billion shares, with a nominal value of LE 0.5 per share.

TAQA was established in 2006, and is one of the companies of the Citadel Capital Group for Financial Investments.

It operates in the energy distribution sector in Egypt, and has four affiliated companies: “TAQA Gas”, “TAQA for Electricity”, “TAQA for Petroleum Products Marketing”, and “TAQA for Water”.

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