Rowad downsizes stake in Lecico Egypt

Updated 10/3/2022 3:35:19 PM

Arab Finance: Rowad Tourism (Al Rowad) (ROTO) sold a stake in Lecico Egypt (LCSW) for EGP 16.349 million, according to a disclosure by the Egyptian Exchange (EGX) on Monday.

The transaction was executed on 1.514 million shares at an average price of EGP 10.798 per share.

Accordingly, Rowad’s stake in Lecico decreased to 3.4% from 5.293%.

Rowad is an Egypt-based public shareholding company that operates in the tourism industry.