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Shareholder sells shares in Real Estate Egyptian Consortium

Shareholder sells shares in Real Estate Egyptian Consortium

ArabFinanceReal Estate Egyptian Consortium (AREH) announced that shareholder Ahmed Ayman Ahmed sold 1.5 million shares in the company at an average price of EGP 5 per share, according to a filing to the Egyptian Exchange (EGX).

The total value of the shares’ sale transaction amounted to EGP 7.5 million.

As a result, the shareholder’s stake in Real Estate Egyptian Consortium fell to 4.985% from 5.205%.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector. The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.

 

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