Egypt: Saudi Seventh Investment lowers stake in Abu Qir Fertilizers to 0.54%

Reuters Images/Amr Abdallah Dalsh

This came after the company sold 9.579 million shares in Abu Qir Fertilizers for EGP 555.894 million at an average price of EGP 58.03 per share

Staff Writer, Arab Finance

September 19, 2024

PHOTO
The plant of Egyptian Fertilizers Company (EFC) is seen at the desert road of Suez city north of Cairo, Egypt August 14, 2016. Image used for illustrative purpose.

Saudi Seventh Investment Company, owned by the Saudi state-owned Public Investment Fund (PIF), has lowered its stake in Abu Qir Fertilizers and Chemicals Industries Company to 0.54% from 1.5%, as per a filing.

This came after the company sold 9.579 million shares in Abu Qir Fertilizers for EGP 555.894 million at an average price of EGP 58.03 per share.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.

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