Cairo – Mubasher: Pioneers Properties for Urban Development (PRDC) has decreased its stake in El Kahera Housing to 70.002% from 76.45%.

Pioneers Properties has sold 5.8 million of its shares in El Kahera Housing in exchange for EGP 197.2 million or EGP 34 per share, according to a bourse filing on Wednesday.

In a separate statement, Pioneers Securities Brokerage announced that Wadi Consulting Company has purchased a 6.44% stake in El Kahera Housing for EGP 197.2 million.

It is noteworthy to mention that on Tuesday, 21 December, the Egyptian Exchange (EGX) announced a block-trading transaction on 5.8 million of El Kahera's shares.