Fawry hits a market cap of $2 billion


We previously covered when Fawry achieved a $1 billion valuation after its stock hit EGP 22.69, about EGP 16 billion. The Egypt electronics company is now valued at $2 billion (EGP 32 billion) after the stock doubled in six months closing at EGP 46.90 yesterday.

Fawry went public in August 2020, after listing on EGX at a price of EGP 6.46 per share. The share price has surged 7-fold since their initial debut.

The company is yet to announce its fourth-quarter results in 2020 but the first nine months of the year the company reported $57 million in revenues – a steady 45 percent growth rate every year. The Covid-19 pandemic has accelerated the growth of the company.

Fawry is the only technology company on the Egyptian stock exchange.


What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Leave a Reply

Your email address will not be published. Required fields are marked *

Ukheshe kcb

SA fintech startup Ukheshe partners with KCB Bank Kenya


UNCDF Boosting financial inclusion and job creation across Ghana with an innovation challenge