Cairo: Beltone Financial Holding on Thursday said that National Bank of Egypt (NBE) has reduced its stake in Egyptian Transport and Commercial Services Co (EgyTrans) to 4.64% from 5.11%.

The bank has sold around 145,500 shares at a value of EGP 1.3 million, or EGP 9.12 per share, Beltone highlighted in a filing to the Egyptian Exchange (EGX).

Egytrans’ capital amounts to EGP 156.06 million distributed over 31.2 million shares at a par value of EGP 5 per share.

The company previously posted a 69% year-on-year hike in standalone profits for the full-year 2017, recording EGP 72.6 million from EGP 42.9 million in 2016.

Source: Mubasher

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