Cairo - Mubasher: Qalaa Holdings announced that the Caravel Fund International LTD has bought 4,878,458 shares of the company for EGP 9.2 million.

Following this transaction, Caravel Fund’s stake in Qalaa increased from 6.02% to 6.36%.

Qalaa Holdings brought down its losses by 48.7% in the first six months of 2015, according to the company’s filing to the bourse on Sunday.

The investment firm reported half-year losses of EGP 301.3 million ($38.6 million), compared with EGP 587.7 million ($75.2 million) for the same period of 2014.