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اليوم السابع
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Major stock sales in Cabo Aspire Saeed
The Egyptian stock market witnessed several changes in the ownership stakes of major shareholders and related parties in contracting and investment companies, through large-scale sales of shares of varying values and quantities. Among the most notable transactions, Wadi Consulting Company sold 13.7 million shares in Upper Egypt Contracting Company, leading to a reduction in its ownership from 10.07% to 8.18%, with a total value of approximately 27.4 million Egyptian pounds. These transactions contributed to lowering the overall ownership percentage of groups affiliated with the shareholders from around 50% to about 47%. Other companies such as Beltone and Arab Cotton Funds also sold hundreds of thousands to millions of shares, affecting their ownership proportions. These movements are part of the disclosure mechanism that allows investors to monitor changes in ownership stakes and their impact on the market. It is noteworthy that the sales were conducted at prices ranging between 0.953 and 9.30 pounds per share, with total values reaching approximately 47.5 million Egyptian pounds.
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