Cairo – Mubasher: Arab Investment Company has reduced its stake in Arabia Investments Holding (AIH) to 2.9% from 6%.

The company sold 42 million shares for EGP 18.78 million at an average price of 0.447 per share, according to a bourse statement on Wednesday.

The transaction was executed by EFG Hermes Securities Brokerage.

During the first six months of 2020, AIH logged EGP 22.76 million in net profits, down from EGP 31.62 million in the prior-year period, including minority shareholders’ rights.