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Cairo National sells stake in National Upper Egypt Clay Bricks

Cairo National sells stake in National Upper Egypt Clay Bricks

ArabFinance: Cairo National Company for Investment and Securities (KWIN) (CNIS) sold its 86.45% stake in National Upper Egypt Clay Bricks (NUECB) at EGP 3.60 per share, according to the company’s October 1st statement filed to the Egyptian Exchange.

Cairo National was owning 864,500 shares in NUECB with a total amount of EGP 3,112,200.

In April, Cairo National’s board of directors approved the purchasing offer submitted by Abu Dhabi Islamic Bank’s client.

On September 21st, Cairo National acquired the whole stake of Alexandria National Company for Financial Investment (ANFI) in National for Trading and Development Company (ENTAD) at EGP 21.23 per share.

The investment company invests in the start-up business and provides securities exchange related services. Its main purpose is to promote and underwrite securities, participate in the establishment of companies that issue securities, and portfolio management.

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