Shareholder cuts stake in El Wadi

Updated 12/6/2021 3:14:33 PM

ArabFinanceEl Wadi for International and Investment Development (ELWA) announced that shareholder Tarek Ahmed Abbas Nadeem has cut his stake in the company to 10.89% from 12.35%, according to a shareholding disclosure filed to the Egyptian Exchange (EGX).

The shareholder sold 2.66 million shares for an average price of EGP 0.702 per share.

The total value of the transaction amounted to EGP 1.87 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.