Cairo – Mubasher: Amwaj for Touristic and Real Estate Investment acquired a 10.53% stake in Odin Investments.

The company purchased 10.95 million shares for EGP 49.3 million, averaging EGP 4.5 a share, according to a statement to the Egyptian Exchange (EGX) on Thursday.

In a separate bourse statement, it is disclosed that New Smart Investments Industrial and commercial reduced its stake in Odin to 2.33% from 12.86% after selling EGP 10.95 million shares for EGP 49.3 million.

Sigma Securities Brokerage acted as a broker in the two transactions.

During the first three months of 2020, Odin Investment incurred net losses of about EGP 167,110, against net profits of nearly EGP 500,360 in the year-ago period, including minority shareholders’ rights.