Cairo – Mubasher: Shareholder Naim Mohammed Ahmed Al Sabbagh has purchased 9.50 million shares in Arab Ceramic Co. - Ceramica Remas for EGP 6.03 million, equivalent to an average price of EGP 0.63 per share.
Accordingly, Al Sabbagh’s stake in Ceramica Remas rose to 6.27% from 4.95%, according to a stock exchange statement on Tuesday.
New Brent Securities acted as a broker in the transaction.
It is worth noting that in the first half (H1) of 2022, Ceramica Remas’ earnings shrank by 57.60% on an annual basis to EGP 15.84 million, compared to EGP 37.38 million.
At the same time, the company’s sales totalled EGP 168.10 million in H1-22, a surge from EGP 166.22 million in H1-21.
