Cairo – Mubasher: Shareholder Gamal Mahmoud Abdel Latif Mahgoub has reduced his stake in Rowad Tourism to 2.95% from 4.81% for a total value of EGP 9.69 million.
The shareholder sold 323,000 shares in Rowad at an average price of EGP 30.03 per share, according to a stock exchange filing on Monday.
In a separate statement, the EGX-listed company said shareholder Abdel Latif Mahmoud Abdel Latif Mahgoub has cut his stake in Rowad to 1.45% from 3.75% after selling 397,500 shares for EGP 11.93 million or an average price of EGP 30.03 per share.
SHUAA Securities acted as a broker in the two transactions.
During the first half (H1) of 2022, Rowad Tourism incurred net losses of EGP 44 million, against profits of EGP 83,900 in the year-ago period, including minority shareholders’ rights.
Moreover, the company’s revenues for the January-June period in 2022 reached RGP 31.39 million, an annual surge from EGP 9.27 million.
