The National Investment Bank reduced its equity ownership in Misr Beni Suef Cement to 14.99% from 15.03%, according to a bourse disclosure.

The lender sold 10,351 shares in the EGX-listed firm at a value of EGP 504.42 million and an average price of EGP 48.73 per share.

It is worth highlighting that Prime Securities was the broker for the transaction that was concluded on 19 February 2024.

Last October, Misr Beni Suef unveiled the board’s proposal to cut the issued capital to EGP 611.38 million from EGP 679.28 million.

In the first half (H1) of 2023, the company’s net profits after tax hiked to EGP 104.85 million from EGP 44.63 million in H1-22.

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