Cairo – Mubasher: Real Estate Egyptian Consortium has reduced its stake in Lecico Egypt to 0.77% from 2.01% for a total value of EGP 9.15 million.

Accordingly, Real Estate Egyptian Consortium sold 994,717 of its shares in Lecico at an average price of EGP 9.19 per share, according to a bourse disclosure on Thursday.

Cairo Capital Securities (CCS) and Arabeya Online acted as brokers 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.