Cairo – Mubasher: Shareholder Sherif Alaa Ahmed El-Zayat has sold his entire 6.01% stake in Speed Medical Company (SPMD) for a total value of EGP 28.86 million.

El-Zayat sold 66.65 million shares at an average price of EGP 0.43 per share, according to a stock exchange statement on Tuesday.

Al Ahly Pharos acted as a broker in the transaction.

During the first nine months (9M) of 2022, Speed Medical turned to standalone net losses of EGP 78.01 million, against profits of EGP 166.31 million in the year-ago period.