Rana Mamdouh _ Giza General Contracting and Real Estate Investment announced that Pioneers Properties for Urban Development – PRE Group has reduced its stake in the company's capital from 58.9% to 50.12% in favor of the Saudi businessman Nawaf bin Abdullah bin Ibrahim bin Dayel.
PRE Group Sells 190 Million Shares for EGP 129.2 Million
Giza General Contracting stated in its disclosure sent to the Egyptian Exchange (EGX) today that PRE Group sold 190 million shares for EGP 129.2 million.
Average Selling Price Reached EGP 0.68 Per Share
The average selling price reached EGP 0.68 per share, and Aspire Capital Holding for Financial Investments acted as the executing broker for the transaction on behalf of both the buyer and the seller.
The stakes of the groups related to the shareholder were recorded as follows: 0.3% for Wadi Consulting, 0.0003% for Namo Consulting, 0.000004% for Al-Hisn Consulting, and 1.9% for BFA Consulting.
52.32% Total Stake of the Seller and Its Related Parties Post-Transaction
According to the disclosure, the total stake of the seller and its related parties following the execution of the transaction becomes 52.32%, compared to 61.1% prior to execution.
Saudi Businessman Nawaf Bin Dayel Acquires an 8.78% Stake in Giza General Contracting
According to the purchase notice issued today, the Saudi businessman Nawaf bin Abdullah bin Ibrahim bin Dayel acquires an 8.78% stake in Giza General Contracting and Real Estate Investment.
