Cairo – Mubasher: Gulf Canadian Real Estate Investment stated Wednesday that the board member Mostafa Hamed bought 50,000 shares at EGP 8.07 a share, totaling 403,300.

The board member thus increased his stake from 8.97% to 9.97%, according to a bourse filing.

The company operates with EGP 30 million, divided into 5 million shares at EGP 6 each.

The company’s losses for the first nine months of 2016 narrowed 90.3% year-on-year to EGP 16,300 from EGP 168,350, the unaudited results revealed on Tuesday.