Cairo – Mubasher: Saudi Egyptian Industrial Investment Co. has increased its stake in Arab Cotton Ginning to 5.09% from 4.80%.

The transaction involves 775,000 shares at a total value of EGP 1.55 million with a selling price of EGP 2 apiece, Arab Cotton Ginning said in a statement to the Egyptian Exchange (EGX) on Tuesday. 

During fiscal year 2018/2019, the company’s net profits retreated to EGP 33.73 million from EGP 89.49 million a year earlier.