New Ismailia sees changes in shareholding structure

Updated 3/11/2021 12:41:00 PM

ArabFinance:  New Ismailia for Urban Development Company (IDRE) announced that its shareholder Ali Mahgoub purchased 331,834 shares at EGP 13.861 million, according to the company’s statement to the Egyptian Exchange on March 11th.

Mahgoub’s stake increased to 10.73% from 9.8%.

The listed company cut its net loss to EGP 1.13 million in 2020, compared to EGP 1.63 million in 2019.

New Ismailia focuses on planning and establishing urban areas while carrying out infrastructure projects such as drinking water, sanitation, electricity, roads, communications, and multiple garages.