ArabFinance: Arab Aluminum (ALUM) said Kharafi Construction reduced its stake from 16.53% to 11.22%, according to the company's November 1st disclosure field to the Egyptian Exchange.
The construction company sold 299,734 shares at EGP 28.83 per each, with a total amount of EGP 8,641,331.
The aluminum producer posted an 8.7% Year on Year decrease in its net profit during the first half of 2020.
Arab Aluminum is an Egypt-based company that specializes in extruding aluminum profiles for architectural and industrial applications. The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.