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New Ismailia's stakeholder cuts stake to 2.9%

New Ismailia's stakeholder cuts stake to 2.9%

ArabFinance: Stakeholder Ali Mahgoub sold 262,081 shares of New Ismailia for Urban Development Company at an average price of EGP 40.128 per stock, according to a January 26th disclosure.

Mahgoub decreased his stake from 3.617% to 2.91%, the statement highlighted.

The company predicts to achieve revenues worth EGP 1.43 million in its 2021 income statement.

New Ismailia focuses on planning and establishing urban areas, while carrying out infrastructure projects such as drinking water, sanitation, electricity, roads, communications, and multiple garages.

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