Cairo – Mubasher: Saudi Olayan Investment increased its stake in Ghabbour Auto (GB Auto) to 5.05% from 4.94%, EFG Hermes announced on Monday.

Hermes added that Olayan purchased 1.189 million shares at an average price of EGP 4.454 per share, bringing the total value of the transaction to EGP 5.29 million, according to a bourse filing.

In 2016, GB Auto’s losses reached EGP 989.8 million against EGP 191.5 million in profits in 2015.