ArabFinance: Asek Company for Mining (Ascom) stated that Qalaa Holding decreased its stake in the former capital from 61.323% to 54.05%, according to the Ascom's August 30th statement filed to the Egyptian Exchange.

Qalaa Holding sold 3,090,000 shares at EGP 7.174 per each, with a total amount of EGP 25,257,660.

Ascom posted consolidated net loss reached EGP 23,240,065 in Q1 2020, a 120% increase from EGP 10,550,356 incurred in Q1 2019.

Standalone net loss stood at EGP 49,358,947 in Q1 2020, against a net profit of EGP 1,160,100 posted in Q1 2019.

Ascom is an Egypt-based public shareholding company that operates primarily in the non-metal mining sector. The company is engaged in geological exploration, mining and quarrying of raw materials, and developing mining operations for building materials and precious metals. This is in addition to being involved in manufacturing operations for ground calcium carbonate and rock as well as glass wool.