Cairo – Mubasher: Shareholder Ayman Ibrahim Abdel Moneim El-Nahhas has reduced his stake in the Egyptian Company for Construction Development (Lift Slab Misr) to 6.05% from 7.12% for a total value of EGP 2.04 million.

El-Nahhas sold 6 million shares at an average price of EGP 0.34 per share, according to a stock exchange filing.

New Brent Securities acted as a broker in the transaction.

During the period from January to March of 2022, the EGX-listed company turned to losses of EGP 406,900, against profits of EGP 710,100 in the same period a year earlier.

Meanwhile, revenues slid to EGP 1.10 million during the January-March period in 2022, compared to EGP 3.36 million in the year-ago period.