Cairo – Mubasher: Waha Investment Management Company has lowered its stake in Cairo for Investment and Real Estate Development (CIRA) to 2.81% from 5.03% for a total value of EGP 170.71 million.

Waha Investment has sold 12.93 million shares in CIRA at an average price of EGP 13.20 per share, according to a stock exchange statement on Monday.

Commercial International Brokerage Company acted as a broker in the transaction.

It is worth noting that during the period from September 2021 to May 2022, CIRA logged net profits of EGP 441.06 million, compared to EGP 458.20 million in the year-ago period.