Cairo – Mubasher: EFG Hermes announced that Schroders Plc has reduced its stake in Talaat Mostafa Group Holding (TMG Holding) to 4.97%.
Schroders Plc sold 2.25 million shares in TMG Holding, cutting its stake to 4.97% from 5.08%, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
The transaction’s value amounted to EGP 26.2 million, with an average purchase rate of EGP 11.66 per share.
For the full-year 2018, TMG Holding’s consolidated profits rose by 28% to EGP 1.77 billion, compared to EGP 1.32 billion in the previous year.
