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NIB cuts stake in ADIB Egypt to 11.86%

NIB cuts stake in ADIB Egypt to 11.86%
(Photo credit: Arabianeye - Reuters)
Abu Dhabi Islamic Bank
ADIB
-1.67% 47.61 -0.81

Cairo – Mubasher: Cairo Capital Securities said Wednesday that National Investment Bank (NIB) has reduced its ownership in Abu Dhabi Islamic Bank – Egypt (ADIB) from 12.13% to 11.86%.

NIB has sold 550,000 shares form EGP 6.03 million, at a price of EGP 10.9 per share, according to a bourse filing.

By 10:30 am Cairo time, the stock declined 2.05% to EGP 10.05.