The value of the Norwegian sovereign wealth fund’s investments in stocks listed on the Egyptian Stock Exchange fell by 30% at the end of last year to record $134.7 million compared to $192.4 million in 2022, according to the fund’s data.
The Norwegian Fund is the largest sovereign fund in the world with a volume of assets under management amounting to $1.48 trillion, according to data from the Sovereign Wealth Fund Institute. The Fund invested at the end of last year in 16 companies listed on the Egyptian Stock Exchange, compared to 18 companies at the end of 2022, after its exit from Abu Qir Fertilizers and Macro Group. For medical preparations.
Most of the values of the Fund’s investments in Egyptian stocks witnessed declines, with the exception of Talaat Moustafa Group, in which the value of its investments grew by 91% to hold the largest share of the Fund’s investment by 34%. The value of the Fund’s investments in Telecom Egypt also grew by 16.9%, and in Education Management Services by 2.7%.
The Fund’s investments in international trade declined
The value of the fund’s investments in the shares of the Commercial International Bank, which is the stock with the largest share in the main Egyptian Stock Exchange index, recorded the largest decline by 66.5%, and the Integrated Diagnostics Company by 58.2%.
The value of the Norwegian Fund’s investments in “e-Finance” also decreased by 26.3% to record $11.9 million, and in Cairo Investment and Real Estate Development by 17.8% to $11.9 million.
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2024-01-30 18:45:24
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