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| 18 September, 2018

Saudi Arabia's Alinma raises stake in Egypt’s Ajwa to 5.49%

Saudi investment firm bought around 943,200 shares in Ajwa

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

REUTERS/Faisal Al Nasser

Saudi Arabia - Alinma Investments has raised its stake in Ajwa Group for Food Industries - Egypt to 5.49% from 4.55%.

The Saudi investment firm bought around 943,200 shares in Ajwa at a total value of EGP 2.7 million, or EGP 2.87 per share, according to a filing to the Egyptian Exchange (EGX) on Tuesday.

Mubasher International for securities acted as the manager for the transaction.

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Ajwa’s capital amounts to EGP 200.9 million distributed over 100.4 million shares at a par value of EGP 2 per share.

The Egyptian food company logged EGP 29.83 million in net profit for the first half of this year, versus EGP 6.14 million in the same six-month period of 2017.

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