Tuesday 04 Mar
Sustainable Capital Africa Alpha Fund has sold its entire stake, amounting to 9.67%, in Cairo Investment and Real Estate Development - CIRA for Education.
The fund sold approximately 56.34 million shares of CIRA's capital for a total transaction value of 873.33 million Egyptian pounds, at an average selling price of 15.5 Egyptian pounds per share, according to the executing broker, Commercial International Securities.
Cairo Investment and Real Estate Development - CIRA for
Education achieved profits of 424.5 million Egyptian pounds during the period
from September to May 2024, compared to profits of 372.9 million Egyptian
pounds in the corresponding period of the previous fiscal year, taking into
account minority interests.
The company's revenue also increased during the nine months to 2.9 billion Egyptian pounds, compared to revenues of 2 billion Egyptian pounds in the corresponding period of the previous fiscal year.
