ArabFinance: Egyptian Resorts Company (ERC) announced that Bayt El Khebra purchased 37.63 million shares worth EGP 53.88 million, according to the company’s March 15th filing to the Egyptian Exchange.
Accordingly, Bayt El Khebra’s stake increased to 16.64% from 13.06%.
ERC posted a consolidated net loss stood at EGP 45.485 million in 2020, compared to EGP 63.564 million incurred in 2019.
ERC is an Egypt-based company that operates in the tourism and hospitality sectors. The company is engaged in the construction and management of integrated touristic and residential projects in Sahl Hasheesh, Red Sea Governorate.