ArabFinance: El Ezz Porcelain’s (Gemma) (ECAP) announced that shareholder Abdel Salam Masoud cut his stake via selling 827,120 shares at EGP 12.018 million , according to a recent statement to the Egyptian Exchange.

Masoud reduced his stake to 4.51% from 6.13%.

Gemma suffered a net loss of EGP 29.37 million in the first nine months of 2020, versus a net profit of EGP 42.05 million in the same period of 2019.

Established in 1989, Gemma has become the leading manufacturer of high-end Ceramic and Porcelain tiles in Egypt and the Middle East.