FT Partners Advises Fawry on its $58 million Local Private Placement
Overview of Transaction
- On August 8, 2019, Fawry entered into an agreement to sell approximately $58 million of common shares to Actis, National Bank of Egypt and Banque Misr at its Combined Offering price of EGP 6.46 per share
- Each party was offered an equal stake of 7% in Fawry
Significance of Transaction
- Actis’ investment adds a high-profile international name to the list of investors that participated in Fawry’s Combined Offering, underscoring confidence by high-profile financial investors in Egypt’s FinTech scene
- National Bank of Egypt and Banque Misr’s investment adds high profile long-term domestic strategic investors, underscoring confidence in the potential of electronic payments in Egypt
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor to Fawry on the private placement in addition to serving as Fawry’s Combined Offering advisor
- FT Partners leveraged its deep industry knowledge, extensive transaction expertise, and broad scope of relationships to achieve a highly favorable outcome for Fawry