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United Housing’s stake in Electro Cables reaches 9.99%

United Housing’s stake in Electro Cables reaches 9.99%

ArabFinance: United Housing & Development (UNIT) announced Monday that its stake in Electro Cable Egypt (ELEC) reached 9.99%, according to a statement to EGX.

This was a result for the mandatory purchase offer submitted by Al Wadi Consulting Engineering, Flourish Investment Corporation and Samo For Consultation to acquire 295 million shares, representing 41.46%, of Electro Cable company. 

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