AMIC sells equity in Arab Engineering at over EGP 15M
Updated 10/14/2020 4:43:50 PM
ArabFinance: Arab Moltaqa Investments Company (AMIC) sold, on October 13th, more than 14.32 million shares in Arab Engineering Industries (EEII) at a value of EGP 1.07 each, according to a disclosure to the Egyptian Exchange.
The total value of the transaction stood at EGP 15.32 million, the statement said.
AMIC currently owns 39.42% stake in Arab Engineering, compared to the 48.02% prior to the sale deal.
BLOM Egypt Securities acted as the broker for this transaction, according to the disclosure.
It is worth noting that the listed Arab Engineering decided to split its shares' par value to become EGP 0.375 instead of EGP 3.75.
