ArabFinance: OS City has sold its 8.4% stake in Nile City Investments (NCIN) in a transaction valued at a total of EGP 209.69 million, according to a bourse filing.

This came after OS City sold 609,073 shares in Nile City Investments at an average price of EGP 344.2 per share.

Meanwhile, Egyptian billionaire Nassef Sawiris has purchased 203,024 shares in Nile City Investments, representing a 2.8% stake of the company’s total shares, according to a separate filing.

The purchase transaction has been carried out at a total value of EGP 69.89 million, equivalent to an average price of EGP 344.28 per share.

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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