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MAK Industry exits Arab Aluminum for EGP 12M

MAK Industry exits Arab Aluminum for EGP 12M

ArabFinance: Arab Aluminum (ALUM) said MAK Holding for Industry sold its entire ownership for a total value of EGP 12.01 million in a September 28th transaction, according to a disclosure to the Egyptian Exchange.

MAK Industry sold 498,194 shares for a value of EGP 24.12 each, exiting its 8.81% equity, the statement added.

Prime Securities acted as the broker for this transaction.

It is worth noting that Arab Aluminum posted an 8.7% Year on Year decrease in its net profit during the first half of 2020.

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