Cairo – Mubasher: HSBC Securities Egypt on Monday said that Moon Capital Partners Master Fund Ltd has sold 34.3 million shares in Global Telecom Holding (GTH) at a total value of EGP 127.4 million, or EGP 3.71 per share.
Moon Capital has narrowed its stake in GTH from 1.03%, the company added in a statement to the Egyptian Exchange (EGX).
The shareholder’s stakes in GTH accounts for 4.07%, owned by Moon Capital Master Fund and Moon Capital Partners Master, according to the statement.
Moon Capital Master Fund and Moon Capital Partners Master hold jointly a 4.38% stake in the Egyptian firm following the sale transaction.
On Sunday, GTH announced its board of directors approved an EGP 11.18 billion increase in issued capital through raising subscriptions for existing shareholders.
The capital would be raised to EGP 13.9 billion from EGP 2.73 billion through the issuance of 19.27 billion shares at a nominal value of EGP 58 piasters per share.
