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Target cuts stake in New Ismailia for Urban Development

Target cuts stake in New Ismailia for Urban Development

ArabFinance: Target Real Estate Investment sold 562,224 shares in New Ismailia for Urban Development Company at a total value of EGP 13.68 million, according to a December 17th statement.

The average sale price of this transaction stood at EGP 24.335 per share, the company added.

Target currently owns equity of 4.8446% in New Ismailia for Urban development, compared with the 6.3708% prior to the deal, according to the statement.

New Ismailia for Urban Development is formerly known as Ismailia Development and Real Estate Company.

Target recently raised its stake in the listed firm.

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