Cairo – Mubasher: EFG Hermes said that Sol Global Holding Ltd has cut its stake in Porto Group Holding to 20.23% from 29%.

Sol Global Holding Ltd sold about 88.05 million shares, Porto Group Holding said in a statement to the Egyptian Exchange (EGX) on Sunday.

The total value of the deal amounted to EGP 63.4 million at an average selling price of EGP 0.72 a share.

During the first half of 2019, Porto Group Holding’s net profit rose to EGP 80 million from EGP 53.06 million in H1-18, including minority shareholders’ rights.