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Egyptian Endowments Authority cuts stake in Delta Sugar

Egyptian Endowments Authority cuts stake in Delta Sugar

ArabFinanceDelta Sugar (SUGR) stated that the Egyptian Endowments Authority (EEA) sold 2.5 million shares at EGP 30.285 million, according to the company’s March 3rd statement to the Egyptian Exchange.

EEA decreased its sake in Delta Sugar to 2.11% from 5.37%.

The company’s board of directors approved adding a new activity related to the company’s main purpose.

The listed company turned to a net loss in 2020, suffering EGP 253.95 million, against a net profit of EGP 42.89 million in 2019.

Delta Sugar is an Egypt-based shareholding company that operates in the food processing industry sector. The company is engaged in the manufacture of white sugar and related products. It operates one factory, which produces over 270,000 tons of white sugar annually.

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