Cairo – Juhayna Food Industries announced that its CEO and Deputy Chairman, Seif El-Din Thabet, has been detained pending an investigation.
The company said that it has no further information regarding the investigation, according to a bourse disclosure on Sunday.
In December 2020, the company announced the detention of its Chairman Safwan Thabet, pending an investigation, and approved the appointment of Mohamed Abdullah Mohamed El-Dogheim as the company’s new chairman.
At 10:49 a.m. Cairo time, the company’s stock slid by 11.74% to EGP 5.94.
During the first nine months of 2020, Juhayna Food Industries achieved net profits of EGP 383.74 million, up from EGP 291 million in the year-ago period, including minority shareholders’ rights.
Source: Mubasher
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