Al Arafa for Investment buys additional stake of 5% in Goldentex
Updated 9/13/2022 3:10:00 PM
Arab Finance: Al Arafa for Investment and Consultancies (AIVC) has purchased an additional stake of 5% or 714,168 shares in Golden Textiles and Clothes Wool (Goldentex) (GTWL) at a total value of EGP 4.285 million, according to a shareholding disclosure on September 13th.
Accordingly, Al Arafa’s stake in Goldentex increased to 48.95% from 43.95%.
This came after the United Bank has sold a stake of 5%, representing 714,168 shares, in Goldentex at an average price of EGP 6 per share, according to a separate disclosure.
The United Bank’s stake in Goldentex fell to 0.703% from 5.703%.
Earlier this day, the Egyptian Exchange (EGX) announced that a block-trading transaction was executed on 714,168 shares of Goldentex at a value of EGP 4.285 million.
Goldentex is an Egypt-based company engaged in the manufacture of textile products. The company is involved in the processing and dyeing of wool, woolen blended synthetic fiber, and industrial yarn.
Arafa is an Egypt-based holding company engaged in financial and management consulting, and investment activities. The company is organized into three business segments; retail, apparel and tailoring, and textiles. It operates through managing and administrating its subsidiaries and affiliated companies.
