Cairo - Mubasher: The shareholder Hashim Hussein Ataa Ghoneim slashed his stake in Porto Group Holding to 5.41% in two transactions worth EGP 52 million. 

Ghoneim sold 50 million shares for EGP 37 million or an average of EGP 0.74 apiece, cutting his stake to 7.12% from 11.39%, according to a bourse disclosure on Sunday.

In the second transaction, the shareholder reduced his stake to 5.4% from 7.12% after selling 20 million shares for EGP 15 million, averaging EGP 0.75 per share. 

During the first quarter (Q1) of 2021, Porto Group Holding achieved consolidated net profits of EGP 18.85 million, against net losses of EGP 16.34 million in the same period of 2020.