Egypt: Shareholder buys over 265K shares in Arab for Development

Honest Brokerage acted as a broker in the transaction

Staff Writer, Mubasher

PHOTO

Shareholder Omar Abdel Aziz Attia Baraka has increased his ownership in Arab for Development and Real Estate Investment (ADRI) to 10.09% from 9.64% for a value totalling EGP 408,437.

The shareholder bought 265,188 shares in Arab for Development at an average price of EGP 1.54 per share, according to a bourse statement on Wednesday.

Honest Brokerage acted as a broker in the transaction.

During the first nine months (9M) of the current fiscal year (FY), Arab for Development registered net profits of EGP 1.21 million, compared to EGP 1.87 million in the year-ago period.

In the meantime, the company’s revenue stood at EGP 4.37 million during the nine-month period of this FY, down from EGP 7.99 million in the same period a year earlier.

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