Pico Investments raised its equity ownership in Al Ahly for Development and Investment (AFDI) to 15.05% from 14.66%, according to a recent bourse disclosure.

Pico Investments purchased 45,000 shares in the EGX-listed company for EGP 785,250, at an average amount of EGP 17.45 per share.

Meanwhile, Cairo Capital Securities (CCS) was the broker for the transaction that was executed on 15 February 2023.

In the first nine months (9M) of 2022, AFDI logged consolidated net profits after tax worth EGP 788,412, an annual plunge from EGP 10.50 million, including minority shareholders’ rights.

Earnings per share (EPS) stood at EGP 0.13 in 9M-22, lower than EGP 0.64 in 9M-21.

The consolidated revenues hit EGP 56.23 million in January-September 2022, up from EGP 44.28 million in the year-ago period.

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