ArabFinance: Stakeholder Ali Mahgoub purchases 737,000 shares of New Ismailia for Urban Development Company (IDRE) at a value of EGP 25.631 million, according to the company’s February 4th statement filed to the Egyptian Exchange.
Mahgoub raised his stake from 3.44% to 5.45%.
New Ismailia focuses on planning and establishing urban areas, while carrying out infrastructure projects such as drinking water, sanitation, electricity, roads, communications, and multiple garages.