In a statement, Namazion obtained a copy, the two companies also agreed to conclude a strategic partnership between them to support and accelerate the growth of digital payments in the Middle East and Africa regions.
Under this agreement, both International International and MasterCard will create joint development projects and exchange references to expand the range of products and value-added services for financial institutions and merchants, including cyber and smart tools and coding solutions to stimulate the generation of additional revenue for both parties, and will maintain Both parties, i.e. both Network International and MasterCard, are entitled to offer their independent solutions, and Network International maintains its current neutral strategy.
The statement adds that the MasterCard strategic investment in shares offered by Network International for the initial public offering will be in accordance with the same conditions that govern the subscription of investment institutions and this investment is subject to ownership limits of 9.99%, and the MasterCard investment is subject to a 24-year freeze period One month and a 36-month abstinence period, and during these two periods it is not entitled to purchase any additional shares without the approval of Network International.
The agreement requires Network International to make an initial public offering in which at least 25% of its capital is offered for free trading.
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