Cairo – Mubasher: Target For Real Estate Investment, Development, Agricultural Reclamation and Tourism Development has reduced its stake in Mansoura Poultry to 3.14% from 7.09%. 

The company sold 16.06 million shares for EGP 30.04 million, averaging EGP 1.86 apiece, according to a statement to the Egyptian Exchange (EGX) on Sunday.

In a separate statement, it is disclosed that Mahmoud Hassan Gab Allah has acquired a 0.138% stake or 560,000 shares in the company for EGP 1 million or EGP 1.786 per share.

During the first half (H1) of 2021, Mansoura Poultry incurred net losses of EGP 8.86 million, versus net profits of EGP 17.01 million in H1-20.

The net revenues fell to EGP 52.89 million in the January-June period, compared to EGP 90.52 million in the year-ago period.