Egypt - Mashareq Real Estate Developments acquired a 10.02% stake in Electro Cable Egypt Company’s shares in a transfer of ownership deal, according to a bourse disclosure on 29th December.

Mashareq purchased 332 million shares of the EGX-listed company’s capital with a total value of EGP 896.40 million at an average price of EGP 2.70 per share.

On the other hand, Wadi Consulting Company lowered its shareholding in Electro Cable Egypt’s capital from 10.70% to 0.70%, as per a bourse filing.

It is worth highlighting that Pioneers Securities was the broker for the two transactions, which were concluded on 26 December 2024.

Electro Cable Egypt recently registered a block-trading deal worth EGP 896.40 million on EGX.

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