Cairo - Mubasher: Bayt El Khebra for Leasing (Technolease) raised its stake in Al Shams Housing and Urbanization to 1.59% from 0.055%.

The transaction involved the purchase of 2.8 million shares for EGP 14.61 million, averaging EGP 5.22 per share, according to a statement to the Egyptian Exchange (EGX) on Monday. 

In a separate statement, it is disclosed that Bayt El Khebra Holding (Kamar) reduced its stake in Al Shams Housing and Urbanization to 3.74% from 5.28%. 

Kamar sold 2.8 million shares for EGP 14.61 million or EGP 5.22 a share. 

During the first quarter (Q1) of 2021, Al Shams Housing and Urbanization logged net profits of EGP 49.26 million, slightly down from EGP 49.4 million in the year-ago period.