Cairo – Mubasher: Nemow for Consulting Co has cut its stake in the Arab Dairy Products Co. (Panda) to 7.86% from 9% at a total value of EGP 9.55 million.

Nemow has sold 3.32 million of its shares in Arab Dairy at an average price of EGP 2.87 per share, according to a stock exchange statement on Monday.

Pioneers Securities acted as a broker in the transaction. 

During the first half (H1) of 2022, Arab Dairy reported net profits of EGP 20.15 million, up from EGP 1.49 million in H1-21, including minority shareholders’ rights.