Arab Finance: Pioneers Properties for Urban Development (PRE Group) sold 190 million shares in Giza General Contracting and Real Estate Investment Company for EGP 129.20 million, at an average price of EGP 0.68 per share, according to a bourse filing.
Accordingly, the group's stake in Giza General Contracting fell to 50.12% from 58.90%.
Aspire Securities was the broker for the transaction, which was executed on October 19.