Arab Finance: QNB Financial Services has sold a 10.05% stake or 690,989 shares in First Investment Company and Real Estate Development (FIRE) for a total value of EGP 1.903 million, according to a shareholding disclosure published on September 12th.
Accordingly, QNB Financial Services’ ownership in First Investment fell to 2.13% from 12.18%.
The transaction has been executed by Financial Brokerage Group (FBG) at an average sale price of EGP 2.75 per share.
Established in 2008, First Investment Company operates within the real estate sector focusing on diversified real estate activities.