Arab Finance: Coronation Africa Frontiers Fund Universal has sold a 2.48% stake in Lecico Egypt (LCSW) for EGP 16.76 million, according to a disclosure filed to the Egyptian Exchange (EGX) on August 23rd.
The sale transaction was implemented on 1.984 million shares at an average price of EGP 8.446 per share.
Accordingly, Coronation Africa Frontiers Fund Universal’s stake in Lecico Egypt fell to 2.57% from 5.05%.
Lecico is an Egypt-based public shareholding company engaged in the manufacture of tiles and sanitary ware products. The company offers its products through three segments: sanitary ware products, ceramic tiles, and brassware.