ArabFinance: Arab Aluminum (ALUM) said Kharafi Construction reduced its stake from 43.20% to 37.89%, according to the company's October 25th disclosure field to the Egyptian Exchange.
The construction company sold 300,000 shares at EGP 30 per each, with a total amount of EGP 9 million.
On September 28th, MAK Holding for Industry exited Arab Aluminium for a total value of EGP 12.01 million.
The aluminum producer posted an 8.7% Year on Year decrease in its net profit during the first half of 2020.
Arab Aluminum is an Egypt-based company that specializes in extruding aluminum profiles for architectural and industrial applications. The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.
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