Abu Dhabi-based private investment company, Chimera Investments, purchased a 2.62% stake in EFG Hermes through its recently-acquired local financial services firm, Beltone Financial, placing itself as a minority shareholder.

Chimera acquired the stake by purchasing 30.5 million shares for EGP 590.6 million, according to a statement to the EGX by Beltone.

The UAE company has made several investments in Egyptian companies in the last 12 months, including a $200 million investment in local super-app MNT-Halan, and buying a 45% stake in GB Lease, excluding its purchase of a majority stake in Beltone Financial.

Related > Chimera officially acquires 56% stake in Beltone Financial

Jayess Holdings Limited (JS Holding Ltd) also purchased a stake in EFG Hermes, acquiring a 5.25% stake after buying 61.27 million shares for EGP 1.18 billion, around EGP 19.32 per share.

EFG Hermes’ second-largest shareholder, Ripplewood, sold around two-thirds of its total shares through a series of block transactions on the EGX on Monday.

RA MENA Holdings sold its around half of its 9.71% stake in the company, cutting it down to 3.17% after selling 76.34 million shares for EGP 1.47 billion.