Cairo - Mubasher: Shareholder Sadiq Ahmed Sadiq El Sewedy has increased his stake in Arabian Cement Co to 11.05% from 9.51%.

Hence, the shareholder purchased 5.80 million shares at a total value of EGP 31.02 million, equivalent to an average price of EGP 5.35 per share, according to a stock exchange statement on Sunday. 

EFG Hermes and Al Ahly Pharos acted as brokers in the transaction. 

In the first half (H1) of 2022, Arabian Cement turned profitable, gaining EGP 119.49 million in net earnings, versus net losses of EGP 23.28 million in H1-21, including minority shareholders’ rights.