Cairo – Mubasher: Al Ahli Development and Investment said its financial position won’t be negatively impacted by the difference of the foreign exchange rates that resulted from the company’s repurchase of 2 million stocks from its unit - Nile Financial Leasing.
The company noted the FX difference of EGP 35 million will be covered through its reserves that amount to EGP 10 million.
Al Ahli Development is capitalized at EGP 200 million, distributed across 20 million shares at EGP 10 par value each.
