Elsaeed Contracting to buy treasury shares
Updated 12/30/2020 10:13:00 AM
ArabFinance: Elsaeed Contracting and Real Estate Investment Company’s board of directors approved purchasing treasury stocks, according to the company’s statement released on December 29th.
The treasury stocks to be bought should not exceed 10% of the company's shares, the statement added.
The listed firm achieved a consolidated net profit of EGP 78,734,515 in January-September 2020, compared to EGP 46,387,853 achieved in the prior-year period.
In mid-May, the company signed agreements to sell some of the office spaces in its administrative building in Katamya. The contract is valued at EGP 140,350,000, the company said.
Elsaeed is an Egypt-based company engaged in the provision of general and specialized contracting and construction services. The company’s activities are structured into three divisions: contracting, gravel quarries, and real estate.
