Real Estate Egyptian Consortium unveils change in shareholding structure

Updated 9/13/2021 11:52:44 AM

ArabFinance: Real Estate Egyptian Consortium (AREH) has witnessed changes in its shareholding structure as shareholder Ali Mahmoud Abdel Latif Mahgoub sold 151,171 shares in the company for an average price of EGP 7.036 per share or a total value of EGP 1.063 million, according to a filing to the Egyptian Exchange (EGX).

As a result, Mahgoub’s stake in Real Estate Egyptian Consortium has been reduced to 6.0005% from 6.038%, the filing added.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector. The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.