Misr Insurance cuts stake in Misr Cement
Wednesday, 06 24 2020, Category: Insurance and Reinsurance, Country: Egypt
Misr Insurance Company lowered its stake in Misr Cement – Qena to 4.68% from 9.3%, Misr Asset Management said in a statement to the Egyptian Exchange (EGX) on Tuesday.
The insurance firm sold 3.33 million shares for EGP 20.74 million at an average price of EGP 6.23 per share.
Moreover, Misr Insurance Company and Misr Life Insurance Company sold their entire stakes of 1.47% and 1.27%, respectively, in Samad Misr (Egyfert), the asset management firm revealed in a separate statement.
Misr Insurance Company sold 112,915 shares for EGP 417,538 at an average price of EG 3.7 a share, while Misr Life Insurance Company sold 121,897 shares for EGP 456,436 at an average price of EGP 3.74 apiece.