ArabFinance: Amwaj For Real Estate and Tourism Investment cut its stake in Emerald Real Estate Investment (EREI) from 38.34% to 33.50%, according to the company’s statement filed to the Egyptian Exchange.
Amwaj sold 9,832,500 shares at EGP 4.49 million with total amount of EGP 44,398,062, the statement added.
EREI posted a net profit after tax of EGP 12,614,670 in the January-September period of 2020, compared to EGP 23,329,287 achieved in the prior-year period.
Earlier this year, the company's shareholders approved dividends of EGP 35.08 million for 2019.
Established in 2009 and listed in 2020, Emerald is a public company that operates within the real estate sector.
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