ArabFinance: Asmak Co has purchased 6.77 million shares in Porto Group Holding (PORT), raising its stake in the latter to 18.75% from 18.17%, according to a filing to the Egyptian Exchange (EGX).
The shares’ purchase transaction has been implemented at a total value of EGP 3.96 million, equivalent to EGP 0.599 per share.
It is worth noting that Asmak plans to acquire over 25% of Porto Group’s capital through the EGX’s open market.
Porto Group is an Egypt-based holding company engaged in many segments through its subsidiaries, namely education, marketing, real estate, investment, and management.