Egypt: Al Tilal for Housing reduces shareholding in Islamic Gharbia for $312,102

Arab Finance: Al Tilal for Housing and Development sold 317,500 shares in Islamic Gharbia Company for Developed Buildings at an amount of EGP 14.941 million, according to a bourse disclosure.

Al Tilal reduced its ownership in the EGX-listed firm to 14.78% from 20.42%, with an average price of EGP 47.06 per share.

The transaction, which was implemented on December 29^th, followed the company’s 147,657 shares sale deal.