Rowad Tourism stated that Ali Mahmoud cut his stake from 3.55 % to 5.533%, according to the company's November 22ndstatement filed to the Egyptian Exchange.
Mahmoud sold 341,934 shares at EGP 15 per each, with a total amount of EGP 5,128,577.
Banque Misr recently sold 896,000 shares in the listed firm at EGP 15.45 per each.
Rowad announced a 13% Year on Year decline in its consolidated net profit for the first half of 2020.
The Egypt-based public shareholding company is engaged in tourism development and construction activities, namely ownership, construction, leasing, and management of hotels and touristic resorts.
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