Egypt's Alhsn for Consulting cuts stake in United for Housing

The shares’ sale transaction was executed by Pioneers Securities Brokerage

  
Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

REUTERS/Amr Abdallah Dalsh
 

Egypt - Alhsn for Consulting Co has reduced its stake in United Company for Housing and Development (UNIT) to 2.28% from 3.06%, according to a recent filing to the Egyptian Exchange (EGX).

This came as a result of Alhsn for Consulting selling 2.15 million shares in United for Housing for EGP 10.829 million, equivalent to EGP 5.037 per share.

The shares’ sale transaction was executed by Pioneers Securities Brokerage.

United for Housing is an Egypt-based company that operates in the housing and real estate investment sector.

The company is primarily engaged in real estate investment activities in Alexandria and other governorates. It purchases, reclaims, and sells land and property, in addition to developing housing and construction projects, and offering financial leasing services.

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