ArabFinance: Real Estate Egyptian Consortium (AREH) has witnessed a change in its shareholding structure as shareholder Mohamed Abdel Nasser Hamed Mahmoud sold 3.172 million shares in the company at an average price of EGP 6 per share, according to a recent filing to the Egyptian Exchange (EGX).
The total value of the shares’ sale transaction amounted to EGP 19.033 million.
As a result, the shareholder’s stake in Real Estate Egyptian Consortium fell to 14.28% from 15.07%.
The transaction has been executed by Beltone Securities Brokerage.
Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector. The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.