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Target for Real Estate Investment cuts stake in Mansourah Poultry

Target for Real Estate Investment cuts stake in Mansourah Poultry

ArabFinance: Target for Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has sold 6.984 million shares in Mansourah Poultry (MPCO) at an average price of EGP 1.56 per share, according to a filing to the Egyptian Exchange (EGX).

Accordingly, Target for Real Estate Investment’s stake in Mansourah Poultry fell to 4.92% from 6.608%.

The shares’ sale transaction has been executed at a total value of EGP 10.89 million.

Meanwhile, shareholder Ali Mahmoud abdel Latif Mahgoub has cut his stake in Mansourah Poultry to 0.4324% from 6.71% after selling 25.38 million shares in a transaction valued at EGP 42.79 million, equivalent to an average price of EGP 1.686 per share, according to a separate filing to the EGX.

Mansoura Poultry is an Egypt-based public shareholding company specialized in poultry farming and its related activities. The firm produces poultry products for breeding purposes for the production of hatching eggs and day-old chicks.

 

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