Cairo – Mubasher: Wadi Consulting reduced its stake in United Company for Housing and Development to 2.2% from 3.08%. 

The transaction involved the sale of 2.9 million shares for EGP 17.18 million, averaging EGP 5.9 apiece, according to a statement to the Egyptian Exchange (EGX) on Wednesday. 

Pioneers Securities Brokerage acted as a broker in the transaction. 

During the first half (H1) of 2021, United Company for Housing and Development logged net profits of EGP 65.73 million, down from EGP 70.23 million in H1-20, including minority shareholders' rights. 

The sales fell to EGP 92.93 million in the January-June period from EGP 120.78 million in the year-ago period.