ArabFinance: Alinma Investment has exited from North Upper Egypt for Development and Agricultural Production (NUDAP) after selling its 7.87% stake, according to a shareholding disclosure filed to the Egyptian Exchange (EGX).
The company has sold 5 million shares in NUDAP at a total value of EGP 6.405 million, equivalent to an average price of EGP 1.28 per share.
It is worth noting that NUDAP incurred a consolidated net loss excluding minority shareholders’ interest of EGP 7.76 million during the first nine months of 2021, up from EGP 389,806 in the year-ago period.