QNB Financial Services raises stake in Egypt's Integrated Engineering Group

The shares’ purchase transaction has been executed by Financial Brokerage Group

  
Traders work at the Egyptian Stock Exchange in Cairo June 1, 2014.

Traders work at the Egyptian Stock Exchange in Cairo June 1, 2014.

REUTERS/Mohamed Abd El Ghany
 

Egypt - QNB Financial Services has raised its stake in Integrated Engineering Group (INEG) to 11.33% from 4.373% after purchasing 10.439 million shares at an average price of EGP 0.40914 per share, according to a filing to the Egyptian Exchange (EGX).

The shares’ purchase transaction has been executed by Financial Brokerage Group (FBG) at a total value of EGP 4.27 million.

Moreover, shareholder Diaa Hosni Mohamed Yehia has purchased 160,000 shares in Integrated Engineering Group at an average price of EGP 0.357 per share or a total value of EGP 57,073, according to a separate statement.

Accordingly, the shareholder increased his stake in the company to 5.07% from 4.47%.

Integrated Engineering Group is an Egypt-based public company listed on the EGX in 2014. The company operates within the capital goods sector focusing on construction and engineering.

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