Shareholder exits from Arab Engineering Industries

Updated 12/21/2021 9:58:37 AM

ArabFinanceArab Engineering Industries (EEII) announced that shareholder Raghda Fathi El-Tokhy has exited from the company after selling her 6.6% stake, according to a shareholding disclosure filed to the Egyptian Exchange (EGX).

El-Tokhy sold 11 million shares in a transaction valued at EGP 36.52 million, equivalent to an average price of EGP 3.32 per share.

Meanwhile, shareholder Ayman Ibrahim El-Nahas raised his stake in Arab Engineering Industries to 23.5% from 16.68%, according to a separate disclosure.

This came after El-Nahas purchased 11.35 million shares in the company at a total value of EGP 37.70 million, equivalent to an average price of or EGP 3.32 per share.

Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.