Egypt's Arab Cotton Ginning cuts stake in B Investments

The company sold 2.87 million shares

  

Cairo – Arab Cotton Ginning reduced its stake in B Investments Holdings to 5.12% from 6.92%.

The company sold 2.87 million shares for a value of EGP 32.31 million, averaging EGP 11.25 per share, according to a statement to the Egyptian Exchange (EGX) on Sunday.

During the first six months of 2020, B Investments Holdings logged net profits of EGP 122.93 million, up from EGP 105.3 million in the year-ago period, including minority shareholders’ rights.

Source: Mubasher

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