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Stakeholder cuts equity in Gulf Canadian Real Estate

Stakeholder cuts equity in Gulf Canadian Real Estate

ArabFinance: Gulf Canadian Real Estate Investment Company (CCRS) announced that Mohamed Mamdouh Hassan el Mawi‎ reduced its equity ownership to 18.86% from 20.12%, according to a disclosure to the Egyptian Exchange.

El Mawi sold 63,000 of his shares at an average price of EGP 32.138.

The total value of the sale transactions was EGP 2.02 million.

Gulf Canadian Real Estate noted that Al Shorouk Brokerage Company acted as the broker for this deal.

Shareholder El Mawi has been decreasing his equity, which was cut to 19.576% in mid-July.

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