Arab Finance: Target for Real Estate Investment sold a 2.62% stake in Real Estate Egyptian Consortium (AREH) for EGP 20.94 million, according to a disclosure to the Egyptian Exchange (EGX) on October 23rd.
The transaction was executed on 10.506 million shares at an average price of EGP 1.993 per share.
Accordingly, Target’s stake in the company declined to 2.566% from 5.1926%.
Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in real estate investment.
The company focuses on real estate development and general building contracts, such as the construction of hotels, touristic villages, and housing complexes.