Egypt: Shareholder raises stake in Rowad Tourism

The shareholder purchased 113,000 shares in Rowad

Staff Writer, Mubasher

November 27, 2022

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Shareholder Mohamed Mamdouh Zaki Mohamed has raised his ownership in Rowad Tourism to 5.26% from 4.61% for a total value of EGP 2.40 million.

The shareholder purchased 113,000 shares in Rowad at an average price of EGP 21.25 per share, according to a bourse statement on Sunday.

Arzan Brokerage Company acted as a broker in the transaction.

During the first half (H1) of 2022, Rowad Tourism incurred net losses of EGP 44 million, against profits of EGP 83,900 in the year-ago period, including minority shareholders’ rights.

Moreover, the company’s revenues for the January-June period in 2022 reached RGP 31.39 million, an annual surge from EGP 9.27 million.

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