Cairo – Mubasher: Target For Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has increased its stake in Real Estate Egyptian Consortium to 7.39% from 2.26%.
Target purchased 20.54 million shares for EGP 120.73 million, averaging EGP 5.87 per share, according to a bourse disclosure on Monday.
Earlier on Monday, it was disclosed that the shareholder Mohamed Abdel Nasser Hamed Mahmoud has reduced his stake in Real Estate Egyptian Consortium to 5.1% from 10.07% after selling 19.86 million shares for EGP 116.77 million, averaging EGP 5.87 apiece.
During the first half (H1) of 2021, the company logged net profits of EGP 12.47 million, up from EGP 9.06 million in H1-20.
The revenues rose to EGP 14.79 million in the January-June period, compared to EGP 12.45 million in the prior-year period.
