Cairo –  Rowad Tourism has reduced its stake in Lecico Egypt to 3.40% from 5.29% for a total value of EGP 16.34 million.

The tourism company sold 1.51 million of its shares in Lecico Egypt at an average price of EGP 10.79 per share, according to a stock exchange filing on Monday.

Arzan Brokerage Company and Cairo Capital Securities acted as brokers in the transaction.

It is worth noting that during the period from January to June 2022, Lecico Egypt incurred net losses of EGP 24.46 million, up from net losses of EGP 18.38 million in the same period in 2021, including minority shareholders’ rights.

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