Cairo – Mubasher: Four shareholders have exited Nile City Investments in separate transactions on the Egyptian Exchange (EGX) on Tuesday, according to separate bourse disclosures. 

Amusement Touristic and Real Estate Investment exited its 28.16% stake in Nile City by selling 2.04 million shares for EGP 703.057 million or EGP 344.2 per share. 

Moreover, Golden C for Real Estate and Touristic Investments sold its entire stake of 4.98% in the company, amounting to 361,050 shares, for EGP 124.3 million, averaging EGP 344.2 per share. 

In addition, Trigger Bay for Real Estate and Touristic Investments sold a stake of 4.98% or 361,050 shares for EGP 124.3 million or EGP 344.2 apiece, while Gazelle Ltd Inc sold 1,160 shares or 0.016% of the company for EGP 399,364 or EGP 344.2 per share.

Meanwhile, Treasure Greek Management Ltd raised its stake in Nile City Investments to 22.57% from 5.79% by purchasing 1.21 million shares for EGP 418.96 million, averaging EGP 344.2 a share.

Hermes Real Estate and Development Limited purchased 1.54 million shares in Nile City for EGP 533.09 million, raising its stake to 22.57% from 1.21%. 

In the first quarter (Q1) of 2021, Nile City Investments reported consolidated net profits of EGP 47.19 million, down from EGP 122.73 million in Q1-20, including minority shareholders' rights.