Cairo – Mubasher: Beltone Securities Brokerage said that Sarwa Capital Holding’s employee stock ownership plan (ESOP) has reduced its stake to 2.44% from 3.74%.

The ESOP transaction involved the sale of 9.71 million shares of Sarwa Capital for EGP 50.5 million at an average sale price of EGP 5.2 per share, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

It is noteworthy that during the first half of 2019, the Egyptian firm’s net profits increased to EGP 192.9 million from EGP 155.9 million in H1-18, including minority shareholders’ rights.