Egyptian Iron & Steel ups stake in Egytrans for $109,191.94

Egyptian Iron & Steel bought one million shares in Egytrans at an average price of $0.11 per share

Staff Writer, Mubasher

December 19, 2022

PHOTO

Cairo – The Egyptian Co. for Iron & Steel has increased its ownership in Egyptian Transport and Commercial Services Company (Egytrans) to 1.92% from 0.01% for EGP 2.69 million.

Egyptian Iron & Steel bought one million shares in Egytrans at an average price of EGP 2.69 per share, according to a bourse disclosure.

Mubasher Trade acted as a broker in the transaction.

It is worth noting to mention that in the first half (H1) of 2022, Egytrans achieved a net profit of EGP 20.15 million, a hike from EGP 6.42 million in the year-ago period.

Meanwhile, revenues for H1-22 surged to EGP 187.12 million from EGP 123.5 million in H1-21.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.