Rana Mamdouh _ Egyptian Electric Cables announced that Saudi businessman Nawaf bin Abdullah bin Dayel has reduced his stake in the company's capital from 5.561% to 4.565%.
Sold 33 Million Company Shares for EGP 60.323 Million
The company stated in its disclosure sent to the Egyptian Exchange (EGX) today that Nawaf bin Abdullah bin Dayel sold 33 million shares of the company for EGP 60.323 million.
Average Selling Price Reached EGP 1.827 Per Share
The average selling price reached EGP 1.827 per share, and Aspire Securities and Bonds Brokerage acted as the executing broker for the transaction.
It is worth noting that Jadwa Industrial Development Company and its related group hold the largest stake in the ownership structure of Electric Cables at 51%, according to the latest shareholder structure disclosure issued last October.
