Arab Finance: Electro Cable Egypt logged a block-trading deal valued at EGP 452.880 million, according to a disclosure issued by the Egyptian Exchange (EGX) on Sunday, September 6.
The transaction, executed over 222 million shares, followed another deal implemented last August at a value of EGP 574.750 million.
Established in 1954, the company operates in the electric components manufacturing sector. The company produces both power cables and telecommunication cables for local markets and for export as well. In the early Sixties, the company was nationalized and became a public sector entity.
In 1997, Electro Cable Egypt witnessed the privatization of the company when a distinguished group of strategic investors decided to buy out the majority of shares held by the Holding Company in October 1997.
