ArabFinance: Speed Medical Company (SPMD) announced shareholder Mahmoud Ahmed Mahmoud Lasheen has sold 78.51 million shares in the company, according to a shareholding disclosure filed to the Egyptian Exchange (EGX).

Accordingly, the shareholder’s stake in the company fell to 15.693% from 22.773%.

The transaction has been carried out at a total value of EGP 76.94 million, equivalent to an average price of EGP 0.98 per share.

Moreover, the shareholder Ismail Ahmed Gadallah sold 1.5 million shares in Speed Medical at an average share price of EGP 1.20 per share, totaling EGP 1.8 million, according to a separate filing.

Therefore, Gaballah’s share in the company fell to 5.88% from 6.015%.

Established in December 2015 and listed on the EGX since March 2019, Speed Medical is a Cairo-based company that operates in the healthcare sector.