Home StocksEGX Egypt’s MidFert Misr raises stake in Sheeni to over 12%

Egypt’s MidFert Misr raises stake in Sheeni to over 12%

by Sama Mousa
EGX

Egypt’s MidFert Misr raised its 9.95 percent stake in General Company for Ceramic and Porcelain Products (Sheeni) to 12.27 percent on Tuesday.

The stake comes at a value of 9.09 million Egyptian pounds.

Midfert bought 1.17 million shares in the EGX-listed firm at a price of 7.76 pounds per share, according to a bourse filing.

Al Ahly Pharos was the broker for the transaction.

During the July 2022-June 2023 period, Sheeni recorded profits of 19.65 million pounds.

The company’s sales rose by 121 percent year-on-year (YoY) to 240.39 million pounds by the end of June, up from 198.64 million pounds.

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