Cairo – Mubasher: Shareholder Sadek Ahmed Sadek ElSewedy has increased his stake in Speed Medical Company (SPMD) to 5.20% from 4.49% for a total value of EGP 3.50 million.

The shareholder purchased 7.85 million shares at an average share price of EGP 0.44, according to a stock exchange statement on Wednesday.

EFH Hermes 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.