Cairo – Mubasher: Misr Life Insurance has reduced its stake in Rowad Tourism to 2.17% from 5.42% in a deal worth EGP 31.7 million. 

The transaction involved the sale of 563,328 shares for EGP 56.29 apiece, Al Rowad For Securities Brokerage said in a statement to the Egyptian Exchange (EGX) on Thursday. 

In a separate statement, it is disclosed that Misr Insurance Holding Co lowered its stake in Rowad Tourism to 2.17% from 3.87% after selling 295,800 shares for EGP 16.69 million, averaging EGP 56.44 per share. 

During the first half (H1) of 2021, Rowad Tourism logged about EGP 83,900 in net profits, down from EGP 6.96 million in H1-20.