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Lift Slab Misr reveals change in shareholding structure

Lift Slab Misr reveals change in shareholding structure

ArabFinance: Egyptian for Developing Building Materials (Lift Slab Misr) (EDBM) announced that its shareholder Ibrahim Abdel Moniem El-Nahas has purchased 4.89 million shares in the company at a price of EGP 0.85 per share, according to a filing to the Egyptian Exchange (EGX).

Accordingly, El-Nahas’ stake in Lift Slab Misr increased to 2.04% from 1.17%, the filing added.

The total value of the transaction amounted to EGP 4.15 million.

The shares’ purchase transaction has been executed by Tycoon Securities.

Lift Slab is an Egypt-based company engaged in the construction and development of industrial buildings and facilities. The company implements hydraulic driving force technology in constructing roofs, tunnels, pipes, bridges, and other engineering constructions.

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