Cairo – Mubasher: Bayt El-Khebra Holding (Kamar) raised its stake in the Egyptian Resorts Company to 16.64% from 13.06%.

The transaction involved the purchase of 37.63 million shares for EGP 53.88 million, averaging EGP 1.43 per share, according to a statement to the Egyptian Exchange (EGX) on Monday.

During 2020, the Egyptian Resorts Company incurred net losses of EGP 44.55 million, compared to EGP 52.41 million a year earlier, including minority shareholders’ rights.