Egypt: Arab Moltaqa hikes stake in Expedition Investments

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Cairo – Arab Moltaqa Investments increased its stake in Expedition Investments to 14% from 9.40%, according to a bourse filing.

Having obtained the approval of the ordinary general meeting (OGM), the EGX-listed firm purchased 24.34 million shares in Expedition Investments at a value of EGP 25 million.

It is worth highlighting that Expedition Investments holds a 32.91% equity ownership in Arabian Food Industries Company (Domty).

In November 2023, Arab Moltaqa sold its shareholding in United Company for Real Estate Investment to Almaza Real Estate Development at an amount of EGP 38.86 million.

During the first nine months (9M) of 2023, the listed company logged net profits valued at EGP 87.52 million, an annual drop from EGP 121.70 million.

Revenues hiked to EGP 834.12 million in 9M-23 from EGP 470.50 million in 9M-22. Meanwhile, the earnings per share (EPS) kept its value at EGP 0.09.