The Clap

Qalaa Holdings recently announced that their shareholders will be able to buy into the company’s debt using EGP.

Some Context:

Qalaa Holding is heavily indebted, and has been attempting to shave off and restructure its debt. 

Their latest endeavor includes allowing shareholders to participate in purchasing its debt at a discount. Shareholders will then be compensated with Qalaa holdings stocks at EGP 0.6/stock

Previously, the company announced this would only be open for investors buying debt in USD, by sending the money to a UAE bank account. Now, the company is allowing EGP denominated payments too.

Now What:

More details will be unveiled soon. Stay tuned for Claps coverage.

Ahmad Diaaeldin

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