ArabFinance: El Wadi for International and Investment Development (ELWA) announced that shareholder Tarek Ahmed Abbas Nadeem has cut his stake in the company to 29.05% from 32.63%, according to a filing to the Egyptian Exchange (EGX).
The shareholder sold 6.52 million shares for an average price of EGP 0.788 per share.
The total value of the transaction amounted to EGP 5.14 million.
El Wadi, formerly El Wadi Company for Touristic Investment, is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, gymnasiums, and sauna facilities.