Technolease exits Foodico

Updated 10/1/2020 4:48:00 PM

ArabFinance:  Ismailia National Food Industries (Foodico(INFI)  stated that Bayt EL Khebra for leasing (Technolease) exited the company by selling its 7.99% stake in the company capital, according to the company's September 30th statement filed to the Egyptian Exchange.

Technolease sold 919,355 shares at EGP 22.80 per each, with a total amount of EGP 20,961,294.

On the other hand, Kamar Holding for Financial Investments increased its stake from 1.10% to 9.98% worth EGP 23,287,706.

Ismailia Governorate earlier rejected converting any part of Foodico’s land to be used for residential purposes.

Foodico is an Egypt-based public shareholding company engaged in the food industry. The company exports its products to UAE, Europe, US, Canada, and Australia.