Cairo – Mubasher: Target for Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has raised its stake in Lecico Egypt to 1.33% from 0.48% for EGP 8.68 million.

Target purchased 1.02 million shares in Lecico at an average price of EGP 8.47 per share, according to a bourse disclosure.

EFG Hermes acted as a broker in the transaction.

It is worth noting that during the period from January to September 2022, Lecico Egypt incurred net losses of EGP 29.75 million, compared to net losses of EGP 23.25 million in the same period in 2021, including minority shareholders’ rights.