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Shareholder buys equity in New Ismailia for EGP 16.5M

Shareholder buys equity in New Ismailia for EGP 16.5M

ArabFinance: Stakeholder Ali Mahgoub purchased 505,000 shares of New Ismailia for Urban Development Company at an average price of EGP 33.04 per stock, according to a January 14th disclosure.

The total value of the transaction reached EGP 16.68 million.

Mahgoub currently owns 1.9675% stake in New Ismailia, compared with the 0.5967% equity prior to the deal.

EFG Hermes acted as the broker for the purchase transaction.

A month ago, Target Real Estate Investment bought 700,000 shares of New Ismailia.

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