Cairo – Mubasher: Financial Brokerage Group said that the European Bank for Reconstruction and Development (EBRD) has reduced its stake in Ibnsina Pharma to 8.71% from 10.10%.
EBRD sold 11.41 million of Ibnsina Pharma’s shares for a value of EGP 110.77 million at an average price of EGP 9.70 per share, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
Earlier, EFG Hermes announced the completion of its advisory on the follow-on sale of Ibnsina Pharma’s 69.1 million shares, representing 8.4% of the company’s shares on the Egyptian bourse.
It is noteworthy that during the first half of 2019, Ibnsina Pharma’s net profits amounted to EGP 103.19 million in H1-19, up from EGP 76.56 million in H1-18.
