Shareholder cuts stake in Egypt's National Real Estate Bank for Development

Shareholder Taher Mohammad Abbas Abdul Muti Al Assal has cut his stake in the company to 3.97% from 5.59%

  
Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany
 

Egypt - National Real Estate Bank for Development (NRPD) announced that shareholder Taher Mohammad Abbas Abdul Muti Al Assal has cut his stake in the company to 3.97% from 5.59% after selling 84,000 shares, according to a filing to the Egyptian Exchange (EGX).

The transaction has been implemented at a total value of EGP 2.12 million, equivalent to EGP 25.24 per share.

The Cairo-based company undertakes all real estate-related activities, such as contracting, technical and engineering supervision, as well as conducting feasibility studies and engineering designs for itself, and third parties.

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