Mashareq sells $762,977 stake in Electro Cable Egypt

Arab Finance: Mashareq Real Estate Developments reduced its stake in Electro Cable Egypt to 0.77% from 1.27%, according to a bourse disclosure.

Mashareq sold approximately 16.5 million shares in the listed firm for a total value of EGP 36.43 million.

The transaction was executed at an average price of EGP 2.208 per share, with Aspire Securities and Bonds acting as the brokerage on the transaction.

Last month, Electro Cable Egypt recorded a block-trading deal worth EGP 28.875 million.