ArabFinance: Misr Insurance Company has cut its stake in International Company for Leasing (Incolease) (ICLE) to 1.31% from 6.55%, according to a bourse filing.

This came after the company sold 1.048 million shares in Incolease for EGP 42.97 million, equivalent to an average price of EGP 41 per share.

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.