ArabFinance: Arab Valves Company (ARVA) stated that ADI Investment reduced his stake from 22.89% to 14.98%, according to the company's July 7th statement filed to the Egyptian Exchange.

ADI Investment purchased 5,020,201 shares at an average price of EGP 1.24 per each, with a total amount of EGP 6,305,923.

In 2019, the company posted net profits of EGP 6,776,013, compared to net profits of EGP 6,712,363 in the same period a year ago.

Arab Valves is an Egypt-based public shareholding company engaged in designing and manufacturing brass valves and fittings. The company’s product portfolio includes several types of valves, tabs, blenders and fittings in deferent sizes and applications. It also produces a range of ores, which are used in a number of industrial applications.

Copyright © 2020 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.