Cairo – Al Ahly Investments increased its stake in Prime Holding from 4.34% to 6.17% on 20 July, according to a bourse disclosure.

Al Ahly Investments purchased 6.38 million shares in the listed company for EGP 3 million, at an average price of EGP 0.47 per share.

HC Brokerage acted as the broker for the equity purchase transaction.

In the first quarter (Q1) of 2022, Prime Holding registered consolidated net losses after tax of EGP 17.43 million, higher than EGP 11.36 million in Q1-21.

The revenues amounted to EGP 19.90 million in the January-March period of 2022, versus EGP 32.13 million during the same period a year earlier.

As for the standalone business, the company incurred net losses after tax worth EGP 7.87 million in Q1-22, compared to EGP 4.66 million in the year-ago period.

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