Cairo – Mubasher: Sharm Dreams Company for Touristic Investment said that its shareholder, Khaled Abdullah Mohamed Abdullah, has reduced his stake in the company to 3.78% from 5%.

Hence, the investor sold 650,000 shares in Sharm Dreams for EGP 6.87 million, equivalent to an average price of EGP 10.58 per share, according to a bourse statement on Thursday.

Wall Street Securities Brokerage acted as a broker in the transaction.

During the first half (H1) of 2022, the net losses of Sharm Dreams widened by 18.7% on an annual basis, reaching EGP 40.53 million, compared to EGP 34.14 million.

Revenues for the six-month period ended 30 June 2022 hiked to EGP 11.49 million, compared to EGP 6.60 million in the same period in 2021.