Cairo – Mubasher: Rowad Tourism announced increasing its stake in Lecico Egypt to 3.91% from 2.23%.

Hence, Rowad Tourism purchased 1.34 million of Lecico Egypt’s shares for a total value of EGP 13.75 million, equivalent to an average price of EGP 10.23 per share, according to a bourse filing on Tuesday.

Cairo Capital Securities acted as a broker in the transaction.

It is worthy to mention that during the period from January to June 2022, Lecico Egypt incurred net losses of EGP 24.46 million, up from net losses of EGP 18.38 million in the same period in 2021, including minority shareholders’ rights.