Cairo – Mubasher: Elsewedy Cement has increased its stake in MM Group for Industry and International Trade to 1.64% from 1.33%.

Hence, Elsewedy Cement bought 3 million shares in MM Group at a total value of EGP 10.96 million or an average share price of EGP 3.65, according to a bourse filing on Sunday.

EFG Hermes acted as a broker in the transaction.

It is worth noting that during the January-June period in 2022, MM Group recorded net earnings of EGP 145.66 million, compared to EGP 245.03 million in the year-ago period, including minority shareholders’ rights.