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New Ismailia’s shareholder cuts stake to 83.94%

New Ismailia’s shareholder cuts stake to 83.94%

ArabFinance: New Ismailia for Urban Development Company (IDRE) announced that a split company, Al Ismailia for Real Estate Investment, sold 345,082 shares at a value of EGP 7.66 million, according to the company’s February 22nd statement filed to the Egyptian Exchange.

The company cut its stake to 83.94% from 84.61%.

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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