Major Acquisition on the Egyptian Stock Exchange: Gold Era Increases Its Stake in Prime Holding to Nearly 25%

The Egyptian Exchange witnessed one of the most significant transactions in the capital market in recent months, as the investment group associated with economist and Chairman of Gold Era for Gold Bullion, John Luca, successfully increased its stake in Prime Holding for Financial Investments to nearly 25% of the company’s capital. The move reflects growing confidence in the future of Egypt’s financial sector and the investment opportunities available within the market.

Trading data showed that Gold Era for Gold Trading Holding acquired approximately 52.467 million shares in Prime Holding at an average price of EGP 2.883 per share, bringing the total transaction value to around EGP 151.3 million.

Following the transaction, the acquiring company’s ownership increased from zero shares to 14.99% of Prime Holding’s capital, while the total stake held by the group associated with John Luca rose from 9.99% to 24.98%, making it one of the company’s largest and most influential shareholders.

The acquisition comes as part of a broader expansion strategy aimed at strengthening the group’s presence in the non-banking financial services sector and capitalizing on the promising investment opportunities offered by the Egyptian economy, particularly amid the growing trend toward portfolio diversification and the integration of financial activities with gold and precious metals markets.

Market sources indicated that the deal reflects a long-term investment vision based on Prime Holding’s operational performance and future expansion plans in asset management, direct investment, and specialized financial services, positioning the company as an attractive destination for strategic investors during the current phase.

John Luca is considered one of the prominent figures in Egypt’s investment and gold sectors. He leads Gold Era for Gold Bullion, a company that has significantly expanded its activities in gold trading and investments linked to precious metals over recent years, benefiting from the increasing demand for gold as a key hedge and store of value.

Observers believe that increasing the stake to nearly 25% provides the investment group associated with John Luca with greater influence within Prime Holding’s ownership structure and could pave the way for new strategic collaborations that enhance the company’s financial performance and its ability to capture investment opportunities in the coming period.

The transaction also highlights the continued interest of major investors and institutions in Egypt’s financial sector, supported by positive expectations for growth in investment and financial services activities, ongoing economic reforms, and the expansion of innovative financial products and services designed to meet evolving market needs.