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Arab Moltaka cuts stake in Arab Engineering capital

Arab Moltaka cuts stake in Arab Engineering capital

ArabFinanceArab Moltaka Investments Company (AMIC) cut its stake in Arab Engineering Industries (EEII) from 33.31% to 27.01%, according to the company's October 18th statement.

AMIC sold 10,500,000 shares at EGP 1.059 per each, with a total amount of EGP 11,127,608. Arab Engineering split its share' par value to be EGP 0.375 from EGP 3.75 on September 22nd.

AMIC earlier sold more than other 14.32 million shares in EEII at a value of EGP 1.07 per each.

Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.

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