Cairo – Mubasher: Elsewedy Electric’s CEO, Ahmed Sadek El Sewedy, raised his stake in the company to 25% of capital shares, tracing the Chairman Sadiq Al Sewedy whose stake rose to 24.10% days ago.
The CEO purchased 2.4 million shares at EGP44.5 each, totaling EGP 108.4 million, thus controlling more than a 50% stake in Elsewedy, according to a press release.
Earlier, the Chairman bought 359,500 shares at a total of EGP 16.18 million.
The company is capitalized at EGP2.23 billion, distributed over EGP223.4 million shares at a par value of EGP10 each.
