Real Estate Egyptian Consortium sees change in shareholding structure

As a result, the shareholder’s stake in Real Estate Egyptian Consortium fell to 0.7139% from 4.2139%

  
Buildings in city. Photo Taken In Cairo, Egypt. Image used for illustrative purpose only.

Buildings in city. Photo Taken In Cairo, Egypt. Image used for illustrative purpose only.

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Egypt - Real Estate Egyptian Consortium (AREH) has witnessed a change in its shareholding structure as shareholder Ali Mahmoud Abdel Lateef Mahgoub sold 14 million shares in the company at an average price of EGP 6.20 per share, according to a recent filing to the Egyptian Exchange (EGX).

The total value of the shares’ sale transaction amounted to EGP 86.80 million.

As a result, the shareholder’s stake in Real Estate Egyptian Consortium fell to 0.7139% from 4.2139%.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector. The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.

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