Egypt - Real Estate Egyptian Consortium (AREH) has witnessed a change in its shareholding structure as shareholder Ali Mahmoud Abdel Lateef Mahgoub sold 14 million shares in the company at an average price of EGP 6.20 per share, according to a recent filing to the Egyptian Exchange (EGX).

The total value of the shares’ sale transaction amounted to EGP 86.80 million.

As a result, the shareholder’s stake in Real Estate Egyptian Consortium fell to 0.7139% from 4.2139%.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector. The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.