Treasure Creek Management raises stake in Nile city Investments
Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.
REUTERS/Amr Abdallah DalshArabFinance: 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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