Cairo – Mubasher: MidFert Misr increased its 9.95% equity ownership in General Company for Ceramic and Porcelain Products (Sheeni) to 12.27% at a value of EGP 9.09 million.
Midfert purchased 1.17 million shares in the EGX-listed firm at an average price of EGP 7.76 per share, according to a bourse filing.
It is worth highlighting that Al Ahly Pharos was the broker for the transaction that was executed on 16 October 2023.
During the July 2022-June 2023 period, Sheeni turned profitable at EGP 19.65 million, against net losses after tax valued at EGP 68.97 million a year earlier.
Sales hiked by 121% year-on-year (YoY) to EGP 240.39 million as of 30 June 2023 from EGP 198.64 million.
