Cairo – Mubasher: Bayt El Khebra for Leasing (Technolease) has purchased 2.25 million shares in Arab Cotton Ginning Company for EGP 5.86 million, equivalent to an average price of EGP 2.60 per share.

Accordingly, Technolease’s ownership in Arab Cotton Ginning rose to 2.28% from 1.43%, according to a bourse filing on Thursday.

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

During fiscal year (FY) ended 30 June 2022, Arab Cotton Ginning reported standalone net profits after tax of EGP 34.22 million, compared to net profits of EGP 35.73 million a year earlier.