Golden Coast's shareholder cuts stake to 7.36%

Updated 11/23/2020 1:11:00 PM

ArabFinance: Ali Mahgoub decrease his equity ownership in Golden Coast Company (GOCO) to 7.36% on November 23rd, from the previous 12.207%, according to a disclosure to the Egyptian Exchange.

Mahgoub sold 8.088 million shares at an average price of EGP 1.6 each.

The total value of the transaction stood at EGP 12.951 million, Golden Coast noted.

In early July, the company’s board of directors decided to split the stock's par value from EGP 4 to EGP 0.40 per share.

Established in 2004 and listed on EGX in 2013, Golden Coast operates within the consumer services sector, focusing on hotels, resorts, and cruise lines.