Cairo - Mubasher: Mubasher for Securities and Bonds (Mubasher Trade) acted as the broker for an equity increase transaction in First Investment and Real Estate Development.

The real estate developer stated that Hesham Soliman Fahmy Abdel Latif raised his stake to 11% from 9.40%, according to a bourse filing.

The shareholder purchased 220,000 shares at an average price of EGP 2.58 per share.

Meanwhile, the total value of the transaction stood at EGP 569,000.

Earlier this month, the board of First Investment approved EGP 3.43 million in bonus shares to increase the capital.