ArabFinance: The National Investment Bank (NIB) has sold 368,862 shares in International Company for Leasing (Incolease) (ICLE) for a total value of EGP 15.12 million, equivalent to an average price of EGP 41 per share, according to a shareholding disclosure filed to the Egyptian Exchange (EGX).

As a result, NIB’s stake in Incolease fell to 5.36% from EGP 7.2%.

Moreover, Misr Insurance Company has sold 451,121 shares in Incolease for EGP 18.49 million, cutting its stake to 6.55% from 7.60%, according to a separate disclosure.

Additionally, Misr insurance Life has cut its stake in Incolease to 5.66% from 7.60% after selling 389,607 shares for a total value of EGP 15.97 million or EGP 41 per share, according to a disclosure.

Incolease is an Egypt-based company engaged in the provision of customer service and personalized financial solutions.

The company leases a range of assets, including commercial vehicles, machinery, information technology equipment, production lines, real estate, and other tangible and intangible long-term assets.