Shareholder ups stake in Ceramica Remas for EGP 6m

Cairo – Mubasher: Shareholder Naim Mohammed Ahmed Al Sabbagh has purchased 9.50 million shares in Arab Ceramic Co. - Ceramica Remas for EGP 6.03 million, equivalent to an average price of EGP 0.63 per share. 

Accordingly, Al Sabbagh’s stake in Ceramica Remas rose to 6.27% from 4.95%, according to a stock exchange statement on Tuesday.

New Brent Securities acted as a broker in the transaction. 

It is worth noting that in the first half (H1) of 2022, Ceramica Remas’ earnings shrank by 57.60% on an annual basis to EGP 15.84 million, compared to EGP 37.38 million.

At the same time, the company’s sales totalled EGP 168.10 million in H1-22, a surge from EGP 166.22 million in H1-21.

Mubasher Contribution Time: 20-Sep-2022 08:48 (GMT)
Mubasher Last Update Time: 20-Sep-2022 08:55 (GMT)