Sunday 23 Feb
Hermes Securities Brokerage Company stated that Elsewedy Cement Company has increased its stake in the share capital of Qalaa Holdings for Financial Investments from 9.6% to 11.07%.
The company added in a statement to the Egyptian Stock Exchange today that Suez Cement purchased 26.74 million shares of Qalaa with a total transaction value of 78.77 million Egyptian pounds, at an average purchase price of 2.94 Egyptian pounds per share.
It is worth noting that Qalaa Holdings recorded a net profit
of 8.39 billion Egyptian pounds during the period from January to the end of
September 2024, compared to profits of 7.09 billion Egyptian pounds during the
same period of the previous year 2023, taking into account minority rights.
The company's revenues during the first nine months of the current year increased to 113.29 billion Egyptian pounds, compared to 70.73 billion Egyptian pounds during the same period of 2022.
