Cairo – Mubasher: Maadi Company for Development and Reconstruction has reduced its stake in Zahraa Maadi Investment and Development to 50.33% from 50.71%.
The transaction involved the sale of 1 million shares for EGP 45 million, averaging EGP 45 apiece, according to a statement to the Egyptian Exchange (EGX) on Monday.
EFG Hermes acted as a broker in the transaction.
During the first half (H1) of 2021, Zahraa Maadi registered net profits of EGP 90.08 million, up from EGP 69.45 million in H1-20.
The sales rose to EGP 120.68 million in the six-month period ended 30 June from EGP 68.74 million in the year-ago period.
