Cairo – Mubasher: Coronation Africa Frontiers Fund Universal has reduced its stake in Lecico Egypt to 2.57% from 5.05%.
Accordingly, Coronation Africa sold 1.98 million shares in Lecico Egypt for EGP 16.76 million at an average price of EGP 8.44 per share, according to a stock exchange statement on Tuesday.
EFH Hermes acted as a broker in the transaction.
It is worthy to highlight that in the first half (H1) of 2022, Lecico Egypt incurred net losses of EGP 24.46 million, compared to net losses of EGP 18.38 million in the year-ago period, including minority shareholder’s rights.
