Cairo – Mubasher: Arab African International Securities (AAIS) has announced that Banque Misr reduced its stake in Egyptian Iron and Steel to 4.99%.

Banque Misr sold 30,000 shares in the steel producer in consideration of EGP 150,000, according to a bourse statement released on Wednesday.

AAIS’s loss surged to EGP 348.28 million in the six-month period ended 31 December, compared to EGP 231.3 million in the year-ago period.