Saudi Egyptian Industrial Investment ups stake in Arab Cotton Ginning

The transaction involves 775,000 shares

  
A farmer harvests cotton in a field in Qaha, Al-Qalyubia Governorate, northeast of Cairo, Egypt September 28, 2018.

A farmer harvests cotton in a field in Qaha, Al-Qalyubia Governorate, northeast of Cairo, Egypt September 28, 2018.

REUTERS/Mohamed Abd El Ghany

Cairo –  Saudi Egyptian Industrial Investment Co. has increased its stake in Arab Cotton Ginning to 5.09% from 4.80%.

The transaction involves 775,000 shares at a total value of EGP 1.55 million with a selling price of EGP 2 apiece, Arab Cotton Ginning said in a statement to the Egyptian Exchange (EGX) on Tuesday.

During fiscal year 2018/2019, the company’s net profits retreated to EGP 33.73 million from EGP 89.49 million a year earlier.

Source: Mubasher

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