Fadico sells EGP 19M stake in Egyptian Exports

Updated 12/28/2022 12:00:00 PM
Fadico sells EGP 19M stake in Egyptian Exports

Arab Finance: First Arabian Development and Investment Company (Fadico) sold an EGP 19.01 million stake in Egyptian Resorts Company (ERC) (EGTS), according to a disclosure by the Egyptian Exchange (EGX) on Wednesday.

The transaction was executed on 10 million shares at an average price of EGP 1.9 per share.

Accordingly, Fadico’s stake in Egyptian Exports decreased to 14.35% from 15.3%.

ERC is an EGX-listed company based in Egypt that operates in the tourism and hospitality sectors.

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