Treasure Creek Management raises stake in Nile city Investments

Treasure Creek purchased 86.935shares in the listed company

Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

REUTERS/Amr Abdallah Dalsh

ArabFinance: Treasure Creek Management LTD increased its stake in Nile City Investments from 2.09% to 3.29%, according to a January 24th disclosure.

Treasure Creek purchased 86.935 shares in the listed company at a total value of EGP 29,929,982 or EGP 344.28 per share.

The company posted a consolidated net profit of EGP 155,436,382 in the January-September 2020, compared to EGP 508,974,095 achieved in the prior-year period.

The company's board of directors approved on November 8th the establishment of a new real estate development unit.

The new entity's authorized capital amounts to EGP 2 billion, while the issued and paid-up capital reaches EGP 900 million.

Nile City Investment is an Egypt-based public shareholding company engaged in the real estate development and investment sector. It invests in real estate developments, mainly residential, commercial, and administrative unit buildings.

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