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New Ismailia’s shareholder increase stake to 5.35%

New Ismailia’s shareholder increase stake to 5.35%

ArabFinance: Stakeholder Ali Mahgoub purchases 1.11 million shares of New Ismailia for Urban Development Company (IDRE) at a value of EGP 38.93 million, according to the company’s February 18th statement filed to the Egyptian Exchange.

Mahgoub raised his stake to 5.35% from 2.34%.

The listed company suffered a net loss of EGP 707,822 during the first half of 2020, higher 18% when compared to EGP 601,218 in the same period of 2019.  

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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