Real Estate Egyptian Consortium witnesses change in shareholding structure

Updated 9/28/2021 2:50:49 PM

ArabFinanceReal Estate Egyptian Consortium (AREH) has witnessed a change in its shareholding structure as shareholder Ahmed Ayman Abdel Moniem purchased 1.62 million shares in the company at an average price of EGP 6.229 per share, according to a filing to the Egyptian Exchange (EGX).

The total value of the shares’ purchase transaction amounted to EGP 10.105 million.

As a result, the shareholder’s stake in Real Estate Egyptian Consortium rose to 5% from 4.602%.

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.