United Company for Housing and Development announced, in a statement to the stock market, that Smo Consulting raised its equity in the company to 17.22% through buying 1.74 million shares.
On December 7, Smo raised its equity in the company to 15.1%, or 1.6 million shares. Pioneers Capital announced on December 10 selling 1.740 million shares in the comapny.
Thus, Pioneers’ stake in the company decreased to 7.62%.
United Housing had posted a 37% profit rise in the first nine months of FY14 to EGP 28.1 million.
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