Sunday, April 18, 2021

A shareholder increases his stake in “New Ismailia” to 10.54%

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Shareholder (Ali Mahmoud Abd Al-Latif Mahjoub) raised his stake in the shares of the split capital of the “New Ismailia for Urban Development and Development” company, from 9.36% to 10.54%.

The shareholder (Ali Mahmoud Abdel Latif) bought 434.1 million shares of “New Ismailia” with a total value of EGP 20.8 million, at an average price per share within the deal of EGP 47.93.

The shares of shareholder-related groups are around 1.204% for “Target Real Estate Investment”, and 1.11% for Abdul Latif Mahmoud.

The “Target for Real Estate Investment, Development, Agricultural Reclamation and Tourism Development” company raised its share in the divided capital of the divided “New Ismailia Company for Urban Development and Development” from 2.78% to 5.48%.

“Target Investment” bought 995 thousand shares of “New Ismailia Development”, with a total value of 23.89 million pounds.

The average purchase price per share within the deal was 24.01 pounds per share, and Hermes Securities Brokerage acted as executor of the deal.

The shares of groups associated with the shareholder scored 0.0147% for shareholder Abdul Latif Mahjoub.

It is noteworthy that the Ismailia Investment Company acquires the largest share in the new Ismailia ownership structure for urban development and development at 85.3686%, followed by Target Real Estate Investment Company by 5.48%, then JECAM Limited by 2.45%.

The company recorded a net loss of 1.13 million pounds during 2020, compared to losses of 1.62 million pounds during 2019.

The company did not record any sales during 2020, compared to 2.25 million pounds in 2019.

The article, a shareholder, raises his stake in “New Ismailia” to 10.54%, was written in Al-Borsa newspaper.

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