El-Nahas exits Arab Engineering Industries
Updated 1/31/2021 9:32:00 AM
ArabFinance: Arab Engineering Industries said its shareholder Ibrahim El-Nahas exited the company, according to a statement to the Egyptian Exchange.
El-Nahas sold his 10% stake at EGP 13.315 million.
On January 17th, El Nahas rose his stake from 2.1% to 5.5% in Arab Engineering's capital.
The listed company reported a net profit of EGP 2,882,236 during the first six months of 2020, compared to EGP 4,498,456 in the prior-year period.
Arab Engineering is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.
