Egyptian Khamis family gains over $50 million from stake in Oriental Weavers
The Khamis family, one of Egypt’s wealthiest, currently holds a majority stake of 40.58 percent in Oriental Weavers.
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The Khamis family, one of Egypt’s wealthiest, currently holds a majority stake of 40.58 percent in Oriental Weavers.
Oriental Weavers is a leading carpet manufacturer and distributor.
The Khamis family owns a controlling interest of 56.58 percent in Oriental Weavers.
The Khamis family’s share in Oriental Weavers is worth $117 million.
Oriental Weavers operates under the leadership of Egyptian businesswoman Yasmine Mohamed Farid Khamis.
The Khamis family is one of Egypt’s wealthiest families.
Yasmine Mohamed Khamis and her family own a 56.58-percent controlling interest in the leading carpet manufacturer.
The family is set to earn $23.9 million in final dividends from their stake in the leading carpet manufacturer.
Oriental Weavers’ market capitalization is now valued at $324.9 million.
At the current market price, the wealthy family’s shareholding is worth EGP2.7 billion ($194.2 million).
Farida Khamis and other members of the Khamis family jointly control a 56.58-percent stake in the leading carpet maker.
Oriental Weavers China is the Chinese subsidiary of Oriental Weavers, the world’s largest machine-made carpet manufacturer.
The rise was due to a 32.55-percent surge in the company’s shares on the Egyptian Stock Exchange.